Blogs

newsobserver.com blogs

Biz Blog

Red Hat names Gen. Shelton as chairman

Bookmark and Share

Red Hat named retired Army Gen. Hugh Shelton as its new chairman.

Shelton, 68, a Tarboro native and N.C. State alumnus, has been a director at the Raleigh-based software company since 2003.

He replaces former Red Hat CEO Matthew Szulik, who stepped down as the company's chairman this month.

After a long military career, Shelton became the 14th Chairman of the Joint Chiefs of Staff in 1997, and retired on Sept. 30, 2001.

He has maintained ties to NCSU, establishing the General H. Hugh Shelton Leadership Center to provide leadership training for students, faculty, executives and community leaders.

"General Shelton possesses the right combination of leadership, experience and industry knowledge to help guide Red Hat toward achieving its future goals," CEO Jim Whitehurst said in a prepared statement.

Red Hat paid Shelton $256,465 during its latest fiscal year, the company reported in a regulatory filing. He has served as the company's lead director since March 2008.

Red Hat sells Linux computer-operating software and services to corporations, government agencies and others. The company has benefitted during the recession, as more customers look for cheaper alternatives to traditional software, such as Windows-based systems.

Whitehurst has said he expects the company's annual revenue to reach $1 billion by 2012, and Red Hat continues to hire.

Red Hat shares fell 8 cents to $35.08 this morning. The stock is up 53 percent in the past year.

Cars View All
Find a Car
Go
Jobs View All
Find a Job
Go
Homes View All
Find a Home
Go

About the blogger

Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or e-mail him.

Want to post a comment?

In order to join the conversation, you must be a member of newsobserver.com. Click here to register or to log in.
Advertisements