In an unexpected turn of events, Ryan Petersen steps down as CEO of OCZ Technology. EVP Alex Mei appointed as Interim CEO.
While the details surrounding the departure of Ryan are still unknown, it doesn't stop some from speculating the reasons behind his departure, such as financial performance or the rumored acquisition by Seagate. We may never fully know the reason behind this move but both Petersen and OCZ offered up these statement:
"I am very pleased to have transitioned the Company from a niche developer, manufacturer, and seller of high-performance DRAM memory modules to a global leader in solid-state storage solutions," said Ryan Petersen.
"On behalf of the Board, I would like to thank Ryan for his vision and his service to OCZ," said Adam Epstein, OCZ's lead independent director. "Though it perhaps goes without saying, there wouldn't be an OCZ without Ryan, and his contributions to the Company and to the DRAM and SSD industries are far too numerous to mention. We wish him and his family the very best for the future."
In the move to replace Ryan, OCZ's Board of Directors has appointed Alex Mei, Executive Vice President and Chief Marketing Officer as Interim CEO. Alex will also maintain his current responsibilities as EVP and Chief Marketing Officer until a permanent CEO has been selected.
In response to the announcement, Alex said, "I'm honored that the Board has selected me to lead OCZ on an interim basis. We have dedicated and talented employees, extremely competitive technology, and product roadmaps that we believe will enable us to continue to provide industry-leading solid state storage solutions to our growing customer base. As one of the longest tenured employees, I've been fortunate to have had a front-row seat to what OCZ's amazing employees are capable of achieving for nearly a decade. I'm confident that our team will continue to execute the core strategies we've previously communicated to investors."
We wish the best to Ryan and recognize all that he has brought to OCZ Technology and the SSD industry.