Pure Storage names new CEO

Along with naming Charles Giancarlo as the new CEO, Pure Storage posted its Q2 results and gave a more optimistic outlook for the full fiscal year.
Written by Stephanie Condon, Senior Writer

Enterprise storage provider Pure Storage announced Thursday that its Board of Directors has named Charles Giancarlo as the company's new CEO and a member of the board.

Giancarlo, who previously served in senior executive roles at Silver Lake Partners and Cisco, is replacing Scott Dietzen effective immediately. After serving as Pure Storage CEO for seven years, Dietzen has been named chairman of the board.

"We believe Charlie is the best candidate to scale Pure to become a multi-billion dollar global leader in data infrastructure and solutions," Dietzen said in a statement, noting that he and the board began their global search for a new CEO a few months ago.

Dietzen helped Pure Storage go public in 2015, and since then the company has grown its revenues by more than 2.5 times. Giancarlo said the company is poised to keep gaining market share across three growth segments: "its data platform for cloud, accelerating data-driven applications like artificial intelligence and Internet of Things, as well as helping enterprises that are seeking to derive more value from their data."

Giancarlo was at Silver Lake Partners from 2007 to 2015, where he served in various capacities including managing director. From 2008 to 2009, he was interim president and CEO of Avaya, and prior to that he served in senior executive roles at Cisco.

Pure Storage also posted its second quarter financial results Thursday. The company reported a non-GAAP net loss per share of 11 cents on revenue of $224.5 million. More than 350 new customers joined Pure Storage in the quarter, bringing its total customer count to more than 3,700. The company is raising its full-year fiscal 2018 revenue guidance to between $985 million and $1.025 billion.

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