Purple Hat introduced a brand new CEO final month when it promoted 16-year veteran Matt Hicks, who’s been on the job for a number of weeks now. His predecessor, Paul Cormier, stepped down to maneuver into the chairman function.
It’s by no means simple making a transition like this, however Hicks has Cormier, his longtime mentor, to lean on as he takes the Purple Hat reins. In his new function, Hicks has to stroll the road between reassuring clients and workers that there will probably be stability within the firm’s management whereas transferring it ahead and placing his personal mark on issues.
For essentially the most half, Hicks stated he’ll proceed on the identical path as Cormier. IBM has allowed Purple Hat to be unbiased for essentially the most half since buying it for $34 billion in 2018. IBM sells Purple Hat providers to benefit from its gross sales clout, however Purple Hat has remained unbiased, with many companions apart from IBM.
As Cormier advised me about his relationship with IBM CEO Arvind Krishna in a Could interview: “The way in which Arvind characterizes Purple Hat is that IBM will probably be opinionated on Purple Hat, however it will possibly’t work the opposite method round. So what meaning is IBM has utterly standardized on Purple Hat because the [company’s] hybrid platform,” Cormier stated.
Beneath Cormier, Purple Hat helped IBM return to development after an extended interval of stagnation. Massive Blue’s income was up 9% in its most up-to-date earnings report final month. Purple Hat grew 12% and has been a giant contributor to IBM’s development technique
It’s as much as Hicks to maintain that going whereas taking Purple Hat wherever it’s going to go subsequent. I spoke to him not too long ago in regards to the transition to his new function and what it means for all events concerned, from clients and workers to dad or mum firm IBM.