Entering text into the input field will update the search result below

Fusion-io now -12% AH; CFO and sales chief leaving

Oct. 23, 2013 6:12 PM ETFusion-io, Inc. (FIO) StockFIOBy: Eric Jhonsa, SA News Editor5 Comments
  • In tandem with its FQ1 results and below-consensus FQ2 guidance, Fusion-io (NYSE:FIO) announces CFO Dennis Wolf is "leaving after a period of transition to pursue an opportunity at a private company." Also, sales chief James Dawson is retiring from the company.
  • A search has begun for Wolf's replacement; Dawson's replacement will be announced shortly. Separately, the company announces it has hired Gary Smerdon, until now the head of LSI's PCI-Express server flash module unit, to be its chief strategy officer.
  • Wolf and Dawson's departures follow the May resignations of CEO David Flynn and CMO Rick White, reportedly due to board pressure.
  • Fusion-io's sales have been hurt by declining orders from top customers Facebook and Apple; the company's FQ2 guidance suggests the weakness isn't letting up.
  • Shares have now given up most of the September gains they saw on account of M&A hopes.

Recommended For You

Related Stocks

SymbolLast Price% Chg
FIO--
Fusion-io, Inc.