Seeking Alpha

Violin Memory names permanent CEO, shares +5.8% premarket

  • Violin Memory (VMEM) has hired Kevin DeNuccio, who in the past has served as the CEO of telecom software firm Metaswitch and broadband equipment provider Redback, to be its permanent CEO.
  • Violin fired Donald Basile, its last permanent CEO, in December. Chairman Howard Bain III has been serving as the flash storage vendor's interim CEO since.
  • News of DeNuccio's hiring comes five days after activist investor Clinton Group stated Violin has received interest from five potential suitors, as shares continue trading far below their IPO price of $9.
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