RTTNews | May 12, 2021 09:08AM EDT

09:07 Wednesday, May 12, 2021 (RTTNews.com) - VMware Inc. (VMW) Wednesday announced the appointment of Rangarajan Raghuram as Chief Executive Officer and as a Director, effective June 1. Further, the company projected first-quarter 2022 earnings on 9.5 percent growth in revenue.

The company now expects a first-quarter net profit of $1.01 per share and adjusted earnings of $1.76 per share.

Revenue projection for the first quarter of fiscal 2022 is $2.994 billion, up from the first quarter of 2021. The combination of Subscription and SaaS and license revenue is expected to grow 12.5 percent to $1.387 billion, from the prior year.

Raghuram has been with VMware since 2003 and currently serving as an Executive Vice President and Chief Operating Officer, Products and Cloud Services at VMware.

The company named current Senior Vice President and Chief Customer Officer Sumit Dhawan as President, leading all go-to-market functions including Worldwide Sales, Worldwide Partner, and Commercial Organization, Customer Experience and Success (CXS), Marketing, and Communications.

COO Sanjay Poonen will leave the company.

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