Red Hat exec will lead company eyeing an IPO

Frank Calderoni, who last month announced he was departing his job as chief financial officer and executive vice president of operations at Red Hat to become a CEO, will be leading a Silicon Valley company that is gearing up to go public.

Business software company Anaplan has announced that Calderoni will take the company’s helm as president and CEO effective Jan. 23. Raleigh-based Red Hat didn’t disclose where Calderoni was headed when it announced that Calderoni, who joined the company in July 2015 following a stint as CFO at Cisco Systems, was leaving.

Anaplan “has been working toward being ready for an IPO,” Calderoni told Reuters. “The market has opened up. My goal is to make sure we’re ready.”

Anaplan, which has raised more than $200 million in funding, reported in August that it had reached break-even in terms of cash flow and that its annual revenue was on track to exceed $100 million.

Calderoni is at Red Hat through Jan. 20. The company has named Eric Shander, who previously was vice president of finance and accounting and the company’s principal accounting officer, as acting CFO.

This story was originally published January 10, 2017 at 4:57 PM with the headline "Red Hat exec will lead company eyeing an IPO."