Cloudera has revealed that it will have a new CFO once it is officially acquired by affiliates of CD&R and KKR in the second half of 2021. Once the $5.3 billion deal to take the company private is completed, Kevin Cook will take over as CFO while Cloudera’s current finance chief, Jim Frankola, transitions into a new role as a Strategic Advisor.
Additionally the cloud company disclosed that its Chief Product Officer, Arun Murthy, has left the company effective immediately.
Cook brings deep experience and knowledge handling Cloudera’s finances as he currently serves as its SVP of Finance, Corporate Development, and Investor Relations. Before he joined Cloudera in 2014, he spent two years as a Managing Director in charge of Software Investment Banking at RBC Capital Markets. The financial executive also served as the VP of Corporate and Business Development and General Counsel for Barracuda Networks and held top software and internet investment banking roles at FBR Capital Markets, Wachovia Securities, and Credit Suisse.
In Cloudera’s announcement, CEO Robert Bearden thanked Frankola for his contributions over the past decade and stated, “I also look forward to continuing to work with Kevin to drive Cloudera's growth, financial and strategic objectives."
Cloudera reported that its total revenue in the second quarter of 2021 jumped 10% year-over-year to $236.1 million. The company’s acquisition has been cleared by its shareholders and is still subject to regulatory approval.
Bearden commented, "We are also pleased to announce that shareholders have approved our proposed transaction with CD&R and KKR, which we believe will accelerate our hybrid data cloud strategy and enable further investment in product innovation."
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