OCZ Technology announced today that its Board of Directors has appointed Alex Mei, Executive Vice President and Chief Marketing Officer, as Interim CEO in wake of the resignation of former CEO Ryan Petersen.
“I am very pleased to have transitioned the Company from a niche developer, manufacturer, and seller of high-performance DRAM memory modules to a global leader in solid-state storage solutions,” Mr. Petersen said in a statement.
“On behalf of the Board, I would like to thank Ryan for his vision and his service to OCZ,” said Adam Epstein, OCZ’s lead independent director. “Though it perhaps goes without saying, there wouldn’t be an OCZ without Ryan, and his contributions to the Company and to the DRAM and SSD industries are far too numerous to mention. We wish him and his family the very best for the future.”
Bright Side of News, which broke the story of a possible Seagate acquisition of OCZ, believes that Mr. Petersen was ousted by the board because of the company’s faltering performance: while bookings were up the share has slumped due to the apparent collapse of the Seagate acquisition deal and supply shortages.
Shares of OCZ closed at $4.60 at the end of the Monday trading day.