- Nimble Storage (NYSE:NMBL) is now down 17% since last Friday's close. Today's decline has come on volume of 1M shares, already well above a 3-month daily average of 640K.
- Likely hurting shares today: A less-than-flattering statement by the company about the recent departure of sales chief Eric Mann (disclosed on Jan. 9). "Eric Mann made the personal decision to leave Nimble acknowledging that he underestimated the level of personal and professional commitment required to build and lead a high-performance sales team..."
- Nimble adds regional sales chiefs will directly report to CEO Suresh Vasudevan while a search for Mann's successor continues.
- Yesterday, in a talk with Barron's, Vasudevan reiterated Nimble's expectations that the recent addition of Fibre Channel support for its hybrid storage arrays will help it crack major enterprise accounts, and stated the company expects to reach breakeven free cash flow around the middle of FY16 (ends Jan. '16).