Storage and data management firm NetApp has appointed a new CEO on the back of a solid set of financial results for Q1 2010. Tom Georgens, formerly president and COO, has stepped up to replace Dan Warmenhoven, who led the firm for 15 years.
Georgens joined the firm in October 2005 as executive vice president and general manager of enterprise storage systems before being named executive vice president of product operations in January 2007.
Warmenhoven will continue to serve as chairman of the Board of Directors and will also fill the newly-created role of executive chairman. Warmenhoven led the recent unsuccessful bidding war for deduplication firm Data Domain, which was eventually sold to storage giant EMC for $2.1bn.
“Looking back, I am very proud that NetApp has achieved a leadership position in the storage market and now look forward to supporting Tom as he takes the company through the next stages of growth in a new era for the IT industry,” said Warmenhoven.
“I am excited about leading NetApp forward at a time when the IT industry is at a critical inflection point that will create tremendous opportunities and inevitable challenges,” Georgens said. “In just 15 years, NetApp has grown from a $14m start-up with 45 employees into a recognised market leader in networked storage and data management with $3.4bn in annual revenues and approximately 8,000 employees around the world.”
NetApp also reported financial results that were better than expected. Revenue stood at $838m, down 4% on last year. The company recorded net income of $52m, up from $35m a year ago.
“Given the economic backdrop, NetApp performed well in the first quarter. With year over year revenue growth roughly flat on a constant currency basis, our revenue performance clearly outpaced the storage industry at large,” said Georgens.
