Enterprise cloud computing company Nutanix announced that the company’s co-founder and CEO’s retirement plans. According to the statement, Pandey will continue until the company selects and appoints the company’s next CEO. Pandey held the CEO position for the last 11 years. The company also announced Bain Capital Private Equity‘s investment of $750 million in Senior Convertible Notes to support the Company’s growth initiatives and financial results for its fiscal fourth quarter and year ended July 31, 2020.
$1.6B in Annual Billings
Pandey led the company from founding to $1.6B in Annual Billings in over 10 years. Pandey also published a post concerning his decision to retire. Dheeraj Pandey, Co-Founder and CEO of Nutanix, said,
“Co-founding and leading Nutanix for the last 11 years has been the single most rewarding experience of my professional career. Guided by a vision of making IT infrastructure so simple that it becomes invisible, our team has built Nutanix into a leader in cloud software and a pioneer in hybrid cloud infrastructure solutions. With our strong fourth quarter financial results, 29 percent growth in year-over-year run-rate ACV, a delightful software stack, and our recent launch of Nutanix Clusters on AWS bare metal, Nutanix is well positioned for the future. In addition, the $750 million investment from Bain Capital Private Equity announced today underscores the strength of our business and ensures a strong financial foundation to capitalize on the significant opportunities ahead. I am confident there is no better time for me to make this transition to a new leader who can guide Nutanix through its next decade of growth and success.”