Monday, 14 October 2019 06:54

Red Hat sacks CFO for violating workplace standards

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Red Hat sacks CFO for violating workplace standards Pixabay

IBM-owned open source vendor Red Hat has sacked its chief financial officer Eric Shander over what the company has described as a violation of workplace standards.

Shander, who has been with the company for four years, was not paid a US$4 million retainer that the company had negotiated with him before it was acquired by IBM, the Raleigh News and Observer reported.

A former vice-president and chief accountant at Lenovo, Shander led the formation of the global chief financial officer function at the Chinese firm after it bought IBM's PC business in 2005.

Before that he was at IBM for nearly 15 years. He rejoined IBM in 2008 before moving to Red Hat.

Red Hat's senior vice-president of finance, Laurie Krebs, has been named as Shander's replacement.

no shander

The page on Red Hat's website that formerly contained details about Eric Shander.

IBM completed its acquisition of Red Hat in July and the agreement with Shander was that he would get the US$4 million payout in two tranches, six months and a year after finalisation of the merger.

Red Hat has made no public statement about the firing and has removed a page on the company's website that formerly hosted Shander's profile.

IBM is due to report quarterly earnings on Wednesday US time.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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