Bertrand Nuiry, an 18-year Hewlett Packard Enterprise and HP veteran responsible for sales compensation and incentive plans, has left to join fast-growing hyper-converged pioneer Nutanix.
Nuiry departed HPE this month as director of sales incentive design, where he was in charge of the sales compensation strategy for 10,000 salespeople around the globe, according to his LinkedIn profile. Nutanix confirmed to CRN Nuiry's hiring but declined to comment further.
Nuiry is now director of sales compensation at Nutanix, marking the second significant sales hire the San Jose, Calif.-based company has made this year as its shifts to become a software-only hyper-converged infrastructure vendor. Rodney Foreman, who previously led channel efforts at Informatica and had a long career before that at IBM, became vice president of global channel sales for Nutanix in January.
HPE did not respond to a request for comment by press time.
Nuiry joined HP in 2000 as a project manager, moving up the ranks to sales compensation operations manager for enterprise business in EMEA in 2010, and sales strategy and operations manager in 2013, according to his LinkedIn profile. In his latest role, he was tasked with defining and executing on HPE's sales compensation strategy and incentive plans in coordination with its sales and go-to-market teams.
"I just see this as another win for Nutanix," said one executive from a solution provider that partners with Nutanix and HPE, who did not wish to be named. "You look at HPE compared to Nutanix, and there's a lot of opportunity for huge growth at Nutanix. They have a big [total addressable market] ahead of them with really no boundaries now with their software."
In 2016, HPE and Cisco Systems failed to acquire Nutanix before its IPO, with founder and CEO Dheeraj Pandey declining the offers.
Investment firm Needham & Company Tuesday raised its Nutanix price target from $48 to $61, a 19 percent upside. Needham analyst Jack Andrews said he was confident about the company's long-term sustainability of revenue. Nutanix stock has increased from $36.20 per share on March 1 to $52.78 as of March 13.
On March 1, Nutanix reported $287 million in revenue for its second fiscal quarter, up 44 percent year over year. The company reported record billings of $356 million, an increase of 57 percent compared with the same quarter one year ago. Looking at Nutanix's balance sheet, the company closed its second quarter with cash and cash equivalents of $918 million, up from $366 million in its first fiscal quarter.
Nutanix was ranked No. 1 for both vision and execution on Gartner's first Magic Quadrant for Hyper-Converged Infrastructure report. This month, Nutanix unveiled plans to acquire two companies, Netsil and Minjar, to boost its software, application and cloud capabilities.