Red Hat, Inc. (Nasdaq: RHAT), the leader in open source Internet infrastructure solutions, today announced that Gene McDonald, a seasoned executive with broad experience in finance and investment management, has joined its board of directors. McDonald is President of Duke Management Company (DUMAC), the asset management division of Duke University, and executive vice president of Duke University. As part of Red Hat's board, McDonald will help to develop strategic initiatives for the leader in the open source marketplace.
"Gene's many years of experience in investment and asset management make him an ideal contributor to Red Hat's future success," said Matthew Szulik, CEO of Red Hat. "Gene's unique combination of financial management expertise, coupled with a background in law, will be a strong asset to our board as we move forward with Red Hat's plans for continued growth and sustained leadership in the open source market."
"Being so close to Red Hat for several years, I have followed the company's development from a start-up to the undisputed leader in open source," said Gene McDonald. "With its focus on providing open source solutions for Internet infrastructure, Red Hat is well-established as the leader of open source products and services. As a member of the board, I look forward to helping sustain Red Hat's position in the market and to effectively managing its financial initiatives."
McDonald has held several positions at Duke University in Durham, North Carolina since he joined in 1977 as university counsel and vice president. For six years he served as executive vice president of the university, discharging the responsibilities of chief financial officer and chief non-academic administrative officer. In this capacity, he oversaw the University's investment assets.
Prior to his tenure at Duke, McDonald served as an international business executive in London, a practicing attorney in San Francisco and a faculty member at Georgetown University Law Center.
McDonald holds a Bachelor of Arts., J.D. with Honors from the University of San Francisco, LI.M., Georgetown University Law Center, and completed the Advanced Management Program (AMP) at Harvard Business School. He was elected a Class III director at Red Hat, which means he will serve on the board until 2002.
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
LINUX is a trademark of Linus Torvalds. RED HAT is a registered trademark of Red Hat, Inc. All other names and trademarks are the property of their respective owners.
About Red Hat
Red Hat is the world’s leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, and open source communities, Red Hat helps create relevant, innovative technologies that liberate resources for growth and prepare customers for the future of IT. Learn more at http://www.redhat.com.
Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to delays or reductions in information technology spending; the effects of industry consolidation; the ability of the Company to compete effectively; the integration of acquisitions and the ability to market successfully acquired technologies and products; uncertainty and adverse results in litigation and related settlements; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; the ability to deliver and stimulate demand for new products and technological innovations on a timely basis; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company’s growth and international operations; fluctuations in exchange rates; and changes in and a dependence on key personnel, as well as other factors contained in our most recent Quarterly Report on Form 10-Q (copies of which may be accessed through the Securities and Exchange Commission’s website at http://www.sec.gov), including those found therein under the captions "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic and political conditions, governmental and public policy changes and the impact of natural disasters such as earthquakes and floods. 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 this press release.