Red Hat Linux guest on VMware: Bringing up interface eth0: vmxnet3 device eth0 does not seem to be present, delaying initialization

I had a problem where I after a Red Hat Linux guest running on VMware was showing the following message on start up

Bringing up interface eth0: vmxnet3 device eth0 does not seem to be present, delaying initialization

To solve this problem, remove VMware Tools and reinstall it