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

|By:, SA News Editor

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.