OCZ Changes Leaders, Now time to fix the problems

A little over a year ago a story broke about some bad investment practices over at OCZ and I was surprised to see that despite the press and fanfare nothing really happened.  Well it would seem that people don't really care unless the problem is costing them money.

In this case a "dip" in stock price.

OCZ said on Monday Chief Executive Ryan Petersen has resigned, a month after it announced the retirement of Chief Financial Officer Arthur Knapp. OCZ's shares fell 5 percent to $4.23 on the Nasdaq on Tuesday.

"Investor pressure and loss of credibility with the management, because of underperformance in the last three quarters, made the company's board go for this transition," Piper Jaffray & Co analyst Andrew Nowinski said.

Petersen has been at the helm of OCZ since 2002 and steered the company to revenue of $365.8 million last year, from less than $10 million when he started.

I don't cover storage technologies much but when I do it has been OCZ since day 1 and I can honestly say that both of the products were quite fast and showed us why SSDs deserve to be in an enthusiast system.

Related Web URL: http://www.reuters.com/article/2012/09/18/us-ocz-s...