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New CEO and 350M Buyback Announced by Cloud Provider OVHcloud
📅 - French cloud provider OVHcloud, one of the worlds largest cloud hosting providers, has announced a 350 million ($378 million) share buyback alongside the appointment of a new CEO, Benjamin Revcolevschi. Mr. Revcolevschi, who initially joined as Deputy CEO, replaces Michel Paulin, OVHclouds leader over the past six years, marking a new leadership phase for the company.
The new CEO has set a goal for OVHcloud to achieve positive free cash flow by 2026, supported by a targeted revenue growth of 10%.
This shift in leadership would align with OVHclouds report of strong fiscal year 2024 results, which showed annual revenue reaching 993 million, a 10.3% organic growth from the previous year. [...][... Check source for end of article ...]
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