It seems like the hot topic that many tech-enthusiasts are speaking about these days is “evolution.” As the pace of technological growth continues to accelerate, business models and strategies that may have been “viable” in recent history have rapidly transitioned into obscurity and “obsolete-ness.” One of the best examples of dramatic infrastructural shifts occurred recently. Rackspace Hosting Inc.’s chief executive, Lanham Rapier, recently announced his retirement, a statement that was promptly followed by a new set of “marching orders” issued by Rackspace Hosting Inc., which stated that the company was actively planning to redirect its efforts to cloud software development following disappointed revenue forecasts for 2014.
Napier is being replaced by Graham Weston, a co-founder and former CEO of the company. In a recent statement, Weston was quoted as saying, “We’ll continue to build our capability in the software, build more software that helps our hybrid cloud operate better … we’re going to continue to run more and more private clouds for companies on-premise.”
Rackspace has collected a prestigious client list in recent months, cementing lucrative deals with notable companies such as Directv and Swatch. While Weston will continue to lead the company during the upcoming months, the company has launched an official search for their next long-term CEO and has recruited a prestigious executive search firm to aid in the process.
Although Rackspace will, most likely, successfully navigate these transitions without severe financial loss, the impact of this story lies in its development rather than the outcome. At no other point in history have organisations as large and prestigious as Rackspace been overcome so quickly by technological “progress.” Smaller businesses should pay attention to Rackspace’s upcoming tactical maneuverings, as their success or failure can search as an educational model for those continuing to grow. Unfortunately, the majority of smaller companies will have less “cushion” for hard landings when technology changes underneath them.
Although Rackspace occupies the headlines today, we are almost guaranteed more stories like this to unfold as our infrastructure further embeds itself in the digital world.
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