VMware Inc. said Wednesday that its chief financial officer is leaving the company to join software maker Workday.

Mark Peek, who also serves as VMware's co-president for business operations, will become Workday's CFO. He is already a member of its board. Peek will remain with VMware until June 1, the company said.

VMware said it will begin a selection process to find a new CFO.

The co9mpany also said Wednesday that it promoted Carl Eschenbach to chief operating officer and co-president. He joined the company in 2002 and most recently served as co-president for customer operations.

VMware also named Raghu Raghuram executive vice president of cloud infrastructure and management. Raghuram joined VMware in 2003 and most recently worked as general manager and senior vice president.

The company also said Wednesday that it expects its fiscal first-quarter revenue to "broadly meet or slightly exceed" its January guidance of $1.02 billion to $1.04 billion. Analysts polled by FactSet expect $1.03 billion in revenue.

Palo Alto, Calif.-based VMware makes "virtualization" software, which companies use to get more out of their computer servers. Its shares fell $2.87, or 2.6 percent, to $107.50 in morning trading.