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Taylor Rhodes is leaving Rackspace after three years as CEO of the former hosting and cloud heavyweight that recently pivoted to providing managed cloud services for Amazon Web Services, Microsoft Azure, and other hyper-scale platforms.

Rhodes will be replaced by Rackspace president Jeff Cotten, who is stepping in as interim CEO but whom the companys board considers a strong candidate for the chief executive role long-term.

Rhodes said his new company is about as big as Rackspace was when he joined 10 years ago.

He was appointed as Rackspaces chief executive in 2014, replacing then publicly traded companys co-founder and former CEO Graham Weston. The company made the CEO switch after declining several buyout and partnership offers.

Last August however, Rackspace went private, bought out by investment management company Apollo Global Management for $4.3 billion.

Heres Rhodes on company performance since the buyout:

In a follow-up blog post of his own, Cotten said Rhodes was leaving Rackspace in solid condition. Since the company is now private, it does not report the details of its financial performance, but according to Cotten, its managed cloud business is growing exceptionally well.

Managed AWS and Azure services have grown more than 1,400 percent year over year since the were launched two years ago, he said. The company also recently entered a partnership with Google, expecting to launch managed public cloud services for Google Cloud Platform in the near future. Rackspace also provides private cloud services, using VMware, Microsoft, and OpenStack platforms.

Cotten also said Rackspace is working to launch a data center in Germany. Its current footprint consists of data centers in Dallas, Chicago, Northern Virginia, London, Hong Kong, and Sydney.

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Rackspace CEO Taylor Rhodes Leaving Company - Talkin' Cloud