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Former Red Hat CFO Charlie Peters joins software firm's board

Jul, 25 2017, 8:40 AM

Charlie Peters, long-time chief financial officer at Red Hat, is coming out of retirement to take a new job. And he's joining another former Hatter at an emerging open-source software firm.

Peters retired from Red Hat in 2015.

On Monday, however, he confirmed to Fortune that he was joining CloudBees. He joins founder and CEO Sacha Labourey, who also has worked at Red Hat. The two know each other well. Peters will join the board of directors.

"Sacha has great technical and leadership skills," Peters told Fortune.

CloudBees, which has an office in Raleigh, offers open source technology solutions for programmers building software. The company launched in 2010 and has raised more than $50 million in venture capital. According to Fortune, the firm has some 250 employees.

"Charlie has earned tremendous respect on Wall Street for his accomplishments with Red Hat. His unique blend of experience in international finance and publicly traded companies will help guide CloudBees' next phase of growth," Labourey said in a statement.

The Silicon Valley-based firm traces its roots to JBoss where Labourey worked. Red Hat acquired JBoss in 2006. Laborey left the Hatters in 2009.

Peters sees an IPO as a possibility for CloudBees.

"With private companies, you try to grow as fast as possible responsibly, and then the exit will make itself known whether it is an IPO or some sort of M&A," he told Fortune.

Note: This story has been corrected to reflect Peters' position with CloudBees.