HPE CFO Robbiati to step down for RingCentral CEO role

image of Tarek Robbiati

HPE has announced it has accepted the resignation of Tarek Robbiati, executive vice president and CFO, effective August 25.

Robbiati departs HPE having previously served as CFO and EVP of finance and strategy, to accept the position of CEO at RingCentral, Inc. Having joined HPE as CFO in September 2018, Robbiati’s tenure has seen an increase in operating profit margin, gross margins and free cash flow as well as completing several strategic acquisitions.

HPE has named Jeremy Cox, senior vice president, corporate controller and chief tax officer, as interim chief financial officer while the company and its Board of Directors search for a new CFO.

With Robbiati taking over as CEO at RingCentral, the company’s current CEO Vlad Shmunis will transition to the role of executive chairman with the focus of driving the company’s strategic product vision and innovation. Under Shmunis’ leadership, RingCentral has reported more than $2.2bn in annual revenues with around 400,000 customers, 15,000 customer partners and around 4,000 full-time employees.

Antonio Neri, president and CEO of Hewlett Packard Enterprise, said: “Tarek joined HPE as CFO shortly after I became CEO, and he has been an incredible strategic partner as we have transformed HPE to be the edge-to-cloud company.

“Together, we have shifted our portfolio toward higher-growth, higher-margin segments, and we are in a strong position to capitalize on significant market opportunities at the edge, in hybrid cloud and with A.I. We wish Tarek all the best as he takes the next step in his career as a CEO.”

“I reflect on my almost five-year tenure at HPE with great pride,” said Robbiati. “I had the opportunity to work with a talented team as we transformed an iconic company to a platform-based model, fueled by a software- and services-rich portfolio. We have strengthened our financial profile that has enabled HPE’s continued success in the market. And, I know the company is well positioned for future success.”