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Bob Young to Resign From Red Hat Board
RaleighUnited States, October 18, 2005
Red Hat (NASDAQ: RHAT), the world's leading provider of open source to the enterprise, announced today that Bob Young, co-founder and former executive of Red Hat, has decided to resign from the Red Hat Board of Directors.
Young, who founded the company in 1993, served as an executive at Red Hat until 1999. Since then he has been a member of Red Hat's Board of Directors. Young plans to focus on the growth of Lulu.com, an online independent publishing marketplace started in 2002.
"In a funny way, my resignation is perhaps the finest compliment I can pay to everyone associated with Red Hat today, I have complete confidence in the future of the company," said Young.
"Bob's vision for brand relevance in technology was instrumental in the growth and development of Red Hat," said Matthew Szulik, Chairman and CEO of Red Hat. "We are grateful for his vision and service to help guide our direction as part of the Board of Directors and will miss his wise counsel and insightful views on the direction of technology."
About Red Hat, Inc.
Red Hat, the world's leading open source and Linux provider, is headquartered in Raleigh, NC with satellite offices spanning the globe. Red Hat is leading Linux and open source solutions into the mainstream by making high quality, low cost technology accessible. Red Hat provides operating system software along with middleware, applications and management solutions. Red Hat also offers support, training and consulting services to its customers worldwide and through top-tier partnerships. Red Hat's open source strategy offers customers a long term plan for building infrastructures that are based on and leverage open source technologies with focus on security and ease of management. Learn more: http://www.redhat.com
Any statements in this press release about future expectations, plans and prospects for the Company, including statements containing the words "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the factors discussed in our most recent Quarterly Report on Form 10-Q filed with the SEC (a copy of which may be accessed through the SEC's website at http://www.sec.gov), reliance upon strategic relationships, management of growth, the possibility of undetected software errors, the risks of economic downturns generally, and in Red Hat's industry specifically, the risks associated with competition and competitive pricing pressures and the viability of the Internet. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
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