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The announcement of the retirement of Cloudera's CEO, Tom Reilly, on Wednesday, has brought down the shares of the big data company while Hadoop suppliers are facing an increasingly treacherous commercial landscape.
Reilly, who runs the Hadoop power plant since June 2013 – via an IPO and then a merger with his main competitor – announced that he would retire from the company at the end of July.
Martin Cole, chairman of Cloudera's board of directors and former senior executive of Accenture, will hold the position on an acting basis until a new chief executive is hired, the company said.
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The announcement of Mr. Reilly's retirement resulted in a nearly 30% drop in Cloudera's share price Wednesday after normal trading hours, rising to a close market of 8.80 $ 6.17 at the time of the press.
Later in the day, Reilly spoke with investors during a conference on financial results, in which he presented financial results for the first quarter of the fiscal year 2020 exceeding expectations. about the size of the operating losses – a net loss of 13 cents per share versus 23 cents expected – but below earnings expectations that Wall Street was looking for.
Cloudera went public in April 2017 as part of an IPO in the technology sector, which valued the company at $ 1.9 billion. This IPO has surpassed the listing price, but has officially marked a substantial decline in value compared to a few years earlier in the private market.
By filing a public offer, Cloudera revealed as a major investor Intel, who had paid the equivalent of more than $ 30 per share in 2014.
Earlier this year, Cloudera completed a $ 5.2 billion merger with its largest competitor, HortonWorks. Since then, Cloudera has been grappling with the major streamlining of the two companies' product lines and streamlining their combined operations to achieve profitability.
Reilly was previously a senior executive at IBM and Hewlett-Packard before taking up the position of CEO at Cloudera. He came to IBM in 2004 to lead an information management solutions division after Big Blue acquired Trigo Technologies, one of the first data management software vendors he held as CEO.
Cloudera, while establishing itself with the merger with Hortonworks as a dominant company in Hadoop, faces challenges on many fronts.
Hadoop is an open source framework launched for the first time in 2006 to allow the processing of large datasets into computer clusters using the MapReduce programming model. Some data analysis experts already see this technology as inherited.
Spark, another open source framework for large data clusters, challenged the project's position on the market by processing large sets of data in memory, a technique that allows for faster results.
Another competitor from Hadoop, MapR, has already been valued at more than a billion dollars, but announced last week that he was preparing to close his operations within a few weeks .
Hyper-scale cloud providers have also put pressure on Hadoop startups by offering their own hosted versions of the framework.
Google, in particular, poses a unique challenge after the acquisition of Cask Data, Cloudera's competitor, last year. The company's technology has strengthened Google's Cloud Dataproc, a managed Hadoop and Spark service that competes with Cloudera and the older Hortonworks platforms.
Cole, who will be Acting Executive Director of Cloudera, has been Chairman of the Board of Directors since 2018 and a director since 2014. Previously, he was General Manager of Accenture's Technology Group.
"I am very proud of all that we have achieved at Cloudera over the past six years, as we have become a leading provider of enterprise data cloud," Reilly said in a statement.
"Although a lot of work remains to be done, I have determined that the time has come to retire and lead the group within the company as the company enters a new phase of growth." I am confident that Cloudera will continue to prosper in the coming years. "
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