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Fusion-io (FIO -22.7%) CEO David Flynn and CMO Rick White "were forced out by the board," a...

Fusion-io (FIO -22.7%) CEO David Flynn and CMO Rick White "were forced out by the board," a source tells SiliconAngle. "They were founders with immense control and the board didn’t like that ... This is a shock to employees." Meanwhile, Piper's Andrew Nowinski, a long-time FIO bull, is worried the company could lose Facebook as a client, given the relationship has depended on management ties. Nonetheless, he calls the shakeup "a necessary step needed to drive further penetration of the enterprise market." New CEO Shane Robison is being praised for his enterprise chops, and criticized for his role in a string of failed H-P acquisitions.
Comments (1)
  • Brett22
    , contributor
    Comments (83) | Send Message
     
    I've seen this story before with other companies where the founders/early management need to go to allow the company to take the next step. Not handled in the most smooth manner but that speaks to the fact that Flynn and White likey threw a hissy it and abruptly left. Great opportunity to pick up a bunch more shares today. I never buy for a sale, but this article and what's happening in the space make a future transaction a high likelihood. A FIO buyout at a 100% premium to yesterday's price is peanuts for the likes of ORCL, HPQ, EMC.

     

    http://bit.ly/15qDENL
    8 May 2013, 07:56 PM Reply Like
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