Rackspace Technology Inc. RXT, -5.52% on Monday named chief financial officer Amar Maletira as chief executive officer of the company, which is majority owned by Apollo Global Management Inc. APO, -2.64%. Kevin Jones, who has been in the role of CEO for three-and-a-half years, will become an operating advisor with Apollo. Rackspace Technology also said it continues to expect third-quarter earnings of 8 cents to 10 cents a share. Wall Street analysts expect Rackspace to earn 9 cents a share when the company reports its results on Nov. 15, according to FactSet data. Shares of Rackspace are down 63% in 2022, compared to a 30.5% drop by the Nasdaq COMP, -0.52%.
