SAN DIEGO - Teradata Corporation (NYSE: NYSE:TDC), a leading cloud analytics and data platform provider, has announced the appointment of Richard Petley as its new Chief Revenue Officer (CRO), effective immediately. Petley, who has been with Teradata since April 2022, succeeds Todd Cione, who has decided to leave the company to pursue another professional opportunity.
Petley's promotion comes after a series of escalating leadership roles within Teradata. Most recently, he served as the Executive Vice President (EVP) of Global Sales. He has a history of contributing to the company's business transformation, especially noted for his strong performance in the EMEA and APJ regions. His career spans over two decades, with senior sales leadership roles at tech giants Oracle (NYSE:ORCL) and IBM (NYSE:IBM) before joining Teradata.
Steve McMillan, President and CEO of Teradata, expressed confidence in Petley's capabilities, citing his exceptional leadership and significant role in the company's growth and profitability. McMillan emphasized that Petley's experience and track record of sales success make him the ideal candidate for the CRO position during this critical phase of the company's business transformation.
In his new role, Petley aims to focus on accelerating sales execution, enhancing partner success, and improving customer experiences. He also intends to continue driving the company's strategy of building a comprehensive cloud analytics and data platform for trusted artificial intelligence (AI).
McMillan also took the opportunity to thank the outgoing CRO, Todd Cione, for his service and dedication to Teradata, wishing him success in his future endeavors.
The information regarding this appointment is based on a press release statement from Teradata Corporation.
InvestingPro Insights
As Teradata Corporation (NYSE: TDC) welcomes Richard Petley as its new Chief Revenue Officer, the company's financial health and market performance become a focal point for investors. According to the latest data from InvestingPro, Teradata's market capitalization currently stands at approximately $3.77 billion. The company's Price to Earnings (P/E) ratio, a key indicator of market expectations about future earnings growth, is at 62.06, suggesting that investors may expect higher earnings in the future. This is supported by an adjusted P/E ratio for the last twelve months as of Q4 2023, which is slightly lower at 60.21.
InvestingPro Tips indicate that management has been actively buying back shares, which could be a sign of confidence in the company's future prospects and a potential value to shareholders. This is complemented by a high shareholder yield, which may be attractive to investors looking for returns. Additionally, analysts predict that Teradata will be profitable this year, which could further bolster investor confidence in the company's financial performance.
Despite some analysts revising their earnings downwards for the upcoming period, the company operates with a moderate level of debt and has been profitable over the last twelve months. It's worth noting that Teradata does not pay a dividend to shareholders, which could influence the investment strategy for those seeking regular income from their investments.
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