- In tandem with its FQ1 results and below-consensus FQ2 guidance, Fusion-io (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.