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Making important things happen: That’s what drives me in my work as a senior finance executive for complex IT services companies—currently NewGlobe, previously Zenoss and Rackspace. Whether we are in hyper-growth mode, seeking a capital infusion, pivoting toward growth markets, or pursuing other transformative (sometimes disruptive) strategies, I keep my eye on the long-term goal while blocking-and-tackling to make things happen today.At Zenoss, I’ve worked closely with the CEO and Board to strengthen the company’s financial foundation as we shift our software strategy from legacy to SaaS.At Rackspace, I led a variety of major initiatives:► Taking the company public … and then private, leading to a leveraged buyout by Apollo Global Management.► Shifting the business model to become a cloud services partner to industry giants Google, Amazon, and Microsoft.► Launching a Transformation Office and delivering millions in cost savings.► Leading numerous end-to-end acquisitions, from due diligence through deal negotiation and integration. I owe my career in finance to a college internship at the US Embassy in Guatemala City. My interest was stirred when I covered the privatization of the state-owned electric company, managed by a US investment bank which sparked my interest in the industry. Landing a position with Deutsche Bank right out of college, I spent several formative years concentrating in equity offerings (IPOs, follow-ons, private placements) and buy- and sell-side M&A, in both the US and Asia.When I was invited to join Rackspace, I could not foresee the incredible growth of the company—or the mirror growth of my own career, as I was repeatedly asked to take on new roles and solve new problems.A primary part of my job as CFO is serving as a resource, sounding board, and advisor to the CEO, executive team, and board. I’m the down-to-earth, realistic voice that supports data-driven decision-making and ensures our strategies are achievable as well as visionary. Then, it’s time to make things happen. It’s what I’ve done throughout my career—the more complex the challenge, the more satisfying the result. ► EXPERTISE: Strategic Planning, Mergers & Acquisitions, Negotiations & Due Diligence, Integration, Debt & Equity Fundraising, Private Equity/LBO, Financial Planning & Analysis, Cash Management, Capital Budgeting
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Chief Financial OfficerNewglobe Sep 2021 - Present -
Member Board Of Directors, Audit Committee ChairSada Mar 2021 - Dec 2022Los Angeles, California, Us -
Chief Financial OfficerZenoss Sep 2019 - Sep 2021Austin, Tx, UsAt Zenoss, the challenge has been to strengthen the financial foundation and identify new growth markets. While the company has a strong footprint in legacy software for monitoring IT infrastructure, it needed to shift to a cloud-based SaaS offeringWhile at Zenoss…► I improved financial management, raised equity and restructured debt, and revamped the financial plan to align investors, creditors, the board and management. ► We’ve tripled the size of Zenoss Cloud while scaling profitably.The future looks exciting, as we explore further growth avenues and continue to build on the strong foundation we’ve laid this year. -
Interim General Manager, Rackspace Government Solutions | Coo, Americas (Go To Market)Rackspace Oct 2018 - Jun 2019San Antonio, Texas, UsRackspace afforded me many opportunities to step outside the traditional finance/CFO role. In this instance, I became GM with full P&L responsibility for the Virginia-based business unit serving the federal government. With a large contract related to the US Census, we needed to step up to meet stringent and time-sensitive requirements.In this six month assignment …► We signed the largest deal in Rackspace history.► We better integrated with Rackspace HQ to support our growth while maintaining our FedRAMP designation.► Stepping into a customer-facing role, I managed key accounts and built an exceptional relationship with our #1 customer.Then it was time to bring in a new GM who had the deep expertise we needed to excel in the government space. I was asked to take on another strategy/operations role at Rackspace but was tempted away by the opportunity to become CFO—and take on a new and significant challenge—at Zenoss. -
Chief Transformation Officer | Interim Cfo | Interim ChroRackspace May 2017 - Nov 2018San Antonio, Texas, UsIn my prior role, I was instrumental in taking the company private after nearly nine years of being publicly traded. Now, with new PE investors on board, it was essential to reduce costs and improve efficiencies. I was asked to lead the transformation effort.Concurrently, with a major leadership shift following the buyout, I took on two additional interim roles: Chief Financial Officer and Chief Human Resources Officer.Among the achievements of this busy 18-month period …► I launched the company’s first Transformation Management office and recruited an energetic team of more than 100 Rackers. Their mission: Seek out and destroy unnecessary costs, unneeded processes, unprofitable practices. Our results: More than $150M in cash savings.► Concurrently, I led the end-to-end process of acquiring Datapipe and completed the integration of TriCore; refinanced the LBO Term Loan; and led earnings calls to keep creditors up to speed.► Before recruiting and onboarding a new CHRO, I restructured the HR organization, directed several workforce reductions, and launched offshoring and nearshoring projects in support of global workforce management.
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Senior Vice President FinanceRackspace May 2015 - May 2017San Antonio, Texas, UsPreviously the dominant player in managed hosting, Rackspace now faced gorilla competition from Amazon, Microsoft, and Google. A new scenario meant a shift in strategy.► Part 1: Pivot to partner with the three giants, rather than compete head-to-head. That meant rolling out a new Managed Cloud offering. I played a leadership role in creating the business plan, pricing model, and launch strategy. We were so successful, we became “Partner of the Year” with both Amazon and Google.► Part 2: Explore options for taking the company private in order to undergo our transformation out of the public spot light. I was in charge of all of the finance-related due diligence—an exhaustive process of digging up data, creating analysis, and answering deep, detailed questions from very sophisticated PE investors.► Outcome: We were purchased in a $4.4 billion leveraged buyout by Apollo Global Management, and I then set to work leading the transition to our new status as a private company.
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Vice President FinanceRackspace May 2011 - May 2015San Antonio, Texas, UsStrategic finance leader driving product and strategy initiatives throughout the company. Owner of key functional areas including pricing and business model evolution. Supported the launch of the Rackspace Open Cloud. Key responsibilities include strategic and long term planning, pricing, product profitability and economics, and capital planning. Also revamped annual planning process to focus on metrics-based resource allocation.
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Vice President Corporate DevelopmentRackspace Oct 2010 - May 2011San Antonio, Texas, UsLead end to end process of Anso Labs acquisition including negotiating terms, completing due diligence and integration. Supported end to end process of Cloudkick acquisition. Supported development of strategy for Rackspace Private Cloud including product offerings and pricing. Supported development of Cloud and OpenStack ecosystems with partnership agreements.
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Vice President Operational ExcellenceRackspace Aug 2009 - Sep 2010San Antonio, Texas, UsSupported SVP of Support and Chief Operating Officer in this role. Led efforts around helping Rackers understand how their actions with customers impact the economics of the business. Major focus on key financial metric of revenue churn. Developed key analytics around the economics of our NPS (Net Promoter Score) initiatives which were presented to our Board of Directors and at the NPS Loyalty Forum. Lead new an initiative called the Process Forum where Rackers from across the company recommended cross functional processes and took them through the Lean Six Sigma methodology of DMAIC.
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Vice President Finance / Director FinanceRackspace Jan 2005 - Jul 2009San Antonio, Texas, UsOverall responsibility for financial planning and analysis (FP&A), budgeting and financial operations. Lead company-wide process to build corporate and segment business models. Lead annual global planning process and presented plan to Board of Directors for approval each year. Created definitions and processes for reporting key financial and operating metrics. Worked with executive team and Board of Directors on special projects. Lead hiring efforts to build and develop finance team. Supported and lead parts of several key initiatives at Rackspace including:• Capital raising events including: $148M IPO and $245M Revolving Credit Facility• Acquisition of Webmail.US, Slicehost and Jungle Disk, with deal analytics and financial integration. • Acquisition of 1.2M sq ft mall and conversion to office space, aka “Project Castle”• Acquisition of datacenters• International expansion• Cash and equity-based incentive plans• Creation of Investor Relations practice• Financial training for Managers and front line Rackers
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Manager Business Development And FinanceRackspace Jan 2003 - Dec 2004San Antonio, Texas, UsDeveloped pricing methodology and a series of Excel-based tools that transformed the way Rackspace sets prices for all deals, products and services. The model uses predictive cost of revenue assumptions and capital employed to calculate ‘grades’ based on IRR and EVA thresholds which facilitated decision making and lead to key customer wins such as YouTube, Atari and Oakley. Built reporting model that allocated consolidated income statement into individual team and segment P&Ls. Lead analysis for several M&A initiatives including the divestiture of a low-end hosting division called ServerBeach.
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AnalystRackspace May 2002 - Dec 2002San Antonio, Texas, UsWorked on launch of Rackspace’s high-end Microsoft-based hosting platform – Intensive Hosting. Built first financial model, budget and pricing tools. Lead a team that organized the company in fulfilling requirements for Microsoft’s Gold Certification which was key in winning Microsoft’s Hosting Solutions Provider of the Year award.
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Financial AnalystDeutsche Banc Alex. Brown Jul 1999 - Jan 2002Baltimore and Hong Kong offices
Matt Bates Skills
Matt Bates Education Details
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Texas Mccombs School Of BusinessManagement -
Brigham Young UniversityBusiness
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Inglemoor High School
Frequently Asked Questions about Matt Bates
What company does Matt Bates work for?
Matt Bates works for Newglobe
What is Matt Bates's role at the current company?
Matt Bates's current role is CFO at NewGlobe.
What is Matt Bates's email address?
Matt Bates's email address is mb****@****ace.com
What is Matt Bates's direct phone number?
Matt Bates's direct phone number is +121222*****
What schools did Matt Bates attend?
Matt Bates attended Texas Mccombs School Of Business, Brigham Young University, Inglemoor High School.
What skills is Matt Bates known for?
Matt Bates has skills like Forecasting, Cloud Computing, Mergers And Acquisitions, Strategy, Management, Corporate Finance, Finance, Business Development, Mergers, Financial Analysis, Leadership, Analytics.
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