VMware CFO and Co-President Mark Peek is leaving the company to become the CFO of Workday.

According to Forbes VMware also said that Carl Eschenbach, who had been co-president, customer operations, has been promoted to COO and co-president. Raghu Raghuram, who had been GM and senior VP, become executive VP of cloud infrastructure and management.

VMware is looking for a new CFO to replace Peek, who will stay with the company until June 1. VMware said in its earnings call that Co-President Raghu Raghuram, who had been general manager and senior vice president, will become executive vice president of cloud infrastructure and management.

What a coup for Workday, the human capital management and ERP technology company that provides what some call a social graph for the enterprise. The company has had considerable success with its user friendly tech and snazzy apps. The company is biting on the heels of SAP and Larry Ellison made a point of calling out Workday in their last earnings call.

Workday is expected to do an IPO. Peek has the financial expertise and the pedigree needed if the company does plan to go public. According to LinkedIn, Peek has been at VMware since 2007. Prior to VMware, he worked for seven years at Amazon.com.

The VMware re-organization is noteworthy, too. Raghuram is now moving to a new executive role that focuses on VMware’s cloud infrastructure strategy. The cloud is the future for VMware. This news expresses that clearly.