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Fusion-io (FIO) -17.6% after announcing CEO David Flynn has resigned to "pursue entrepreneurial...

Fusion-io (FIO) -17.6% after announcing CEO David Flynn has resigned to "pursue entrepreneurial investing activities," and that CMO Rick White is joining him; both will maintain advisory roles for the next 12 months. Director and former H-P chief strategy officer/CTO Shane Robison, recently made a fall guy for the Autonomy acquisition by Meg Whitman, has been hired to be the company's new CEO. Fusion-io, which announced a CTO change only last week, is reaffirming its FQ4 guidance.
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Comments (11)
  • Ashraf Eassa
    , contributor
    Comments (9081) | Send Message
     
    Mother of God...

     

    Who the hell could have seen this coming?
    8 May 2013, 09:13 AM Reply Like
  • Randal James
    , contributor
    Comments (2798) | Send Message
     
    Short list - you got one name right.
    8 May 2013, 09:26 AM Reply Like
  • rstran
    , contributor
    Comments (87) | Send Message
     
    they reaffirmed guidance, funny it should trade so poorly, down 25%
    8 May 2013, 09:14 AM Reply Like
  • Ashraf Eassa
    , contributor
    Comments (9081) | Send Message
     
    The CEO just bailed a company that's supposed to be his growth story.

     

    FQ4 guide might be reaffirmed, but this speaks very poorly to the company's future prospects.
    8 May 2013, 09:15 AM Reply Like
  • Dean1111
    , contributor
    Comments (172) | Send Message
     
    I see this a huge buying opportunity.
    8 May 2013, 09:22 AM Reply Like
  • bgold1955
    , contributor
    Comments (2096) | Send Message
     
    If their technology is so great, they would have more than 3 customers that represent 80%, or so, of revs. I smell a buyout brewing.
    8 May 2013, 09:19 AM Reply Like
  • Brandond
    , contributor
    Comments (376) | Send Message
     
    Buying with both fists. Both of those guys have made a fortune and they don't need the headache of running a high growth company day to day. A bit of a loss to see the CEO go but they CMO's departure is a yawner.
    8 May 2013, 09:52 AM Reply Like
  • meridian6
    , contributor
    Comments (417) | Send Message
     
    Read my old posts. FIO has been in trouble for some time. Commodity PCIe are everywhere. No defensible strategy.
    8 May 2013, 11:01 AM Reply Like
  • Me 2333
    , contributor
    Comments (3) | Send Message
     
    Got out just in time. Sold all my shares yesterday. Lucky.
    8 May 2013, 12:39 PM Reply Like
  • Brett22
    , contributor
    Comments (83) | Send Message
     
    Buy when there is blood in the streets. There is nothing wrong with the underlying business. Just an over-reaction to an executive shake-up handled very poorly by the Board. Interesting article here about the shakeup:

     

    http://bit.ly/15qDENL
    8 May 2013, 07:59 PM Reply Like
  • Brandond
    , contributor
    Comments (376) | Send Message
     
    Somebody posted an interesting link last night to an article about the management shakeup. Pretty interesting and I think it makes sense. Board needed to take the next step and change strategic direction. Two founders get upset and quit in a huff without any of the normal updates and transition soothing to the street. The whole thing handled very poorly. Speaks a lot about the two knuckle heads that just left to pursue other opportunities. That said, this is a good business in deep value territory here. Maybe stretched at $35/share but a much better opportunity that the red hot overall market at $15/share. That story posted in a "market current" is here.

     

    http://bit.ly/15qDENL
    9 May 2013, 05:30 AM Reply Like
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