Posted Jan. 11, 2017 at 7:12 a.m.

Ex-Red Hat CFO Calderoni takes CEO post at Valley startup

Published: 2017-01-11 07:12:26
Updated: 2017-01-11 07:12:26


Former Red Hat Chief Financial Officer Frank Calderoni disclosed his new landing spot on Tuesday - He's heading back to Silicon Valley.

Less than two years after leaving Cisco to join Raleigh-based Red Hat as its top financial officer, Calderoni said last month he is quitting the world's Linux software and services leader in December for an unknown destination.

Silicon Valley startup Anaplan, which has developed a planning and performance management platform, on Tuesday said Calderoni is its new CEO amid talk about a possible IPO.

Red Hat had not said where Calderoni was headed.

"I am honored to become the President and CEO of Anaplan, as we are at the forefront of an exciting and fast-growing industry," Calderoni said in a statement.

"I believe Anaplan will quickly emerge as one of the best-known names in business software, as there is tremendous growth potential in performance management platforms. I am excited to work together with our talented employees in servicing our customers to help them innovate as smart businesses."

Red Hat (NYSE: RHT) paid highly to recruit Calderoni away from Cisco, including a $4 million signing bonus, $9 million in stock options plus $500,000 to relocate to the Triangle. He replaced Charlie Peters, who had retired.

"Frank is a leader who has contributed to the success of some of the technology industry's most respected firms," said Anaplan board member Standish O'Grady. "Over his career, Frank has earned a reputation as an influential and strategic executive, and we have tremendous confidence Frank will be an outstanding leader for Anaplan's customers, employees and partners."

Calderoni worked at Cisco for 11 years.

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