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SAN ANTONIO - Rackspace Technology (NASDAQ:RXT) has appointed Lata Varghese as Senior Vice President of Business Transformation and Phani Kishore Burre as Senior Vice President of Services and Delivery for its Public Cloud business unit, according to a company press release. These leadership changes come as the company faces significant challenges, with its stock down nearly 53% over the past year and trading at $1.14, according to InvestingPro data.
Varghese brings leadership experience from Cognizant, where she managed global P&L responsibilities and led emerging technology consulting practices focused on financial services, digital banking, payments, blockchain, and digital assets. Most recently, she served as Head of Solutions for the Americas at Randstad Digital.
Burre joins with over 20 years of experience in IT transformation for Fortune 100 clients across multiple industries. At Brillio, he was Managing Director and Global Practice Head for Digital Infrastructure, helping customers accelerate cloud adoption and integrate AI technologies.
"Customers are working through rapid change and want a partner that delivers speed, innovation, and certainty," said Gajen Kandiah, CEO of Rackspace Technology. "Lata and Phani bring strong operating and delivery experience that fits where Rackspace is headed."
According to the announcement, the executives will focus on strengthening the company's operating model, improving execution, and implementing AI and hybrid cloud solutions for clients.
Rackspace Technology describes itself as an end-to-end hybrid and AI solutions company that designs, builds, and operates cloud environments across major technology platforms. With a market capitalization of $277.7 million and a high volatility rating (Beta 2.11), investors seeking deeper insights into Rackspace's financial health and growth prospects can access comprehensive Pro Research Reports covering this and 1,400+ other US equities through InvestingPro.
In other recent news, Rackspace Technology reported its Q3 2025 earnings, showcasing a mixed financial performance. The company recorded a non-GAAP loss per share of $0.05, which was slightly below analysts' expectations of a $0.04 loss. However, Rackspace's revenue reached $671 million, exceeding the anticipated $666.55 million. These financial results reflect a complex picture for investors, balancing a revenue beat against a slight earnings miss. In addition to its earnings report, Rackspace Technology launched a new AI launchpad service aimed at assisting organizations in adopting artificial intelligence through a structured, phased approach. This managed service offers infrastructure, tools, and support across various industries such as healthcare, banking, finance, and energy. These recent developments highlight Rackspace Technology's ongoing efforts to expand its service offerings while navigating financial challenges.
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