OCZ Technology CEO Ryan Petersen Resigns from Company
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.
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back_by_demand master_chen.....okaaaaaaaay...two in a row...what the hell is going on?Musical chairs? Maybe Thomas Siefert is going to work thereReply -
Onus Scapegoat for all the bad OCZ drives? Hmmm, and the new guy is Marketing, not an engineer? Somehow, I just don't trust OCZ any more. Corner-cutting has bitten them on multiple products, from the bad Sandfarce drives, to PSUs with cheaper 85C capacitors that may not hold up.Reply -
I'm surprised they're still in business. I'd never buy one of their SSDs based on their poor reliability in the past.Reply
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dark_knight33 jtt283Scapegoat for all the bad OCZ drives? Hmmm, and the new guy is Marketing, not an engineer? Somehow, I just don't trust OCZ any more. Corner-cutting has bitten them on multiple products, from the bad Sandfarce drives, to PSUs with cheaper 85C capacitors that may not hold up.Reply
The Sandforce debacle was completely out of OCZs hands and affected multiple drive vendors. If anything, that misstep on Sandforce's part broke Sandforce's dominance on the market and gave OCZ the push they needed to just buy their own controller chip maker and start producing them in house (newer agility series). This is a huge win for them, and a good move on OCZs part IMO.
I can't speak to corner cutting any place else, as I have not heard about it. What I will say is that I've needed to use OCZs warranty service only once, and they did an impressive job. -
spidey81 dark_knight33The Sandforce debacle was completely out of OCZs hands and affected multiple drive vendors. If anything, that misstep on Sandforce's part broke Sandforce's dominance on the market and gave OCZ the push they needed to just buy their own controller chip maker and start producing them in house (newer agility series). This is a huge win for them, and a good move on OCZs part IMO. I can't speak to corner cutting any place else, as I have not heard about it. What I will say is that I've needed to use OCZs warranty service only once, and they did an impressive job.Reply
I totally agree. I have both an OCZ PSU and SSD and have had wonderful experiences with both. I did have to use the warranty with the PSU (flaky main power switch), but the turnaround was exceptional and it was replaced by a new unit and not a refurb! Can't complain there. I only wish they still made RAM! All that aside, I'm excited to see OCZ growing as a company and look for good things from them. -
matt_b OliverRubberI'm surprised they're still in business. I'd never buy one of their SSDs based on their poor reliability in the past.The gen 2 drives were the last ones I looked at seriously buying. The gen 3 had so many issues that I didn't even look at the new gen 4. Their pricing for SSD's have been of hard-to-believe proportions (awesome though), but I cannot get over their rebate system. What kind of company offers rebates full time on every product they sell? They've done too much to simply over-inflate their market share and look more appealing as an acquisition that they've lost focus on QC and flat out reliability. Gone are the days of the solid power supplies and the reliable go-to RAM company (Reapers were awesome in their day). Such a waste, a solid company down the drain so fast.Reply -
Onus I realize that the Sandfarce controller issue was not limited to OCZ, but OCZ's own response (or perhaps lack of initial testing, imagine that) may ultimately have cost the company a lot more money and reputation than the Board of Directors (or other PTB) could stomach. A scapegoat was needed, and Ryan Petersen was their choice. Picking a marketing droid rather than an engineer to replace him suggests they're more interested in "damage control" than in fixing or preventing problems like this in the future.Reply
For me, it has become a matter of comfort level, and OCZ just doesn't seem to have it.
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hate machine jtt283Scapegoat for all the bad OCZ drives? Hmmm, and the new guy is Marketing, not an engineer? Somehow, I just don't trust OCZ any more. jtt283Picking a marketing droid rather than an engineer to replace him suggests they're more interested in "damage control" than in fixing or preventing problems like this in the future.Reply
Keyword here... Interim. Also as a CEO he has his hands in the business but his main job is to manage the overall business via the people who manage the mid and lower end. Engineer's aren't always suited for management jobs now are they? Selecting another executive to fill in as a temp is probably the best solution here...