Breaking: Ryan Petersen Ousted as CEO of OCZ Technology

[Cyberburnout]

We have just received news that founder and CEO has been ousted by the Board of Directors and has been replaced in the interim by Alex Mei, the company's CMO.

According to OCZ's statement "Alex Mei, Executive Vice President and Chief Marketing Officer as Interim CEO, effective immediately. Mr. Mei's appointment follows the Board's acceptance of Ryan Petersen's resignation as President, CEO and a director of the Company. Mr. Mei will also maintain his current responsibilities as EVP and Chief Marketing Officer until a permanent CEO has been selected."

While the details regarding Ryan's departure are yet to be known, it is safe to assume that many of OCZ's recent missteps can be attributed to his departure today. Ryan has been pivotal in the establishment and growth of the company and had experienced some of OCZ's greatest growth as a company while CEO. However, lately, there has been a lot of bad news regarding OCZ including their poor fiscal performance, as well as the collapse of the rumored acquisition by .While we really don't know what the future holds for OCZ at this point, hopefully, the company will be able to overcome these two big issues that have burdened the stock in the past few months. We hope that investors will not be punished for Ryan's possible mistakes and that the company can get back up on its feet. We will add more to this story as we get more from secondary sources and the story develops.



Breaking: Ryan Petersen Ousted as CEO of OCZ Technology - Bright Side Of News*

[vinman]

I am curious to see if he actually resigned or was given the ax over the collapse of the acquisition by Seagate.

"In regards to his decision to resign, Mr. Petersen said, "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."
"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."

[Skyguy]

Guess you're only as good as your last success. Otherwise, you're a screwup and greedy investors want you gone because you didn't make them "enough" money.

[vinman]

Yep I have to agree with you Jake been their done that lol!

[Cyberburnout]

He went from the greatest thing for OCZ to being ousted in a month. The corporate world is full of sharks.

[alan1476]

Now lets see if the Barefoot 3 is a success, something tells me if it was going to be Peterson would still be there.

[PoLoMoTo]

Guess you're only as good as your last success. Otherwise, you're a screwup and greedy investors want you gone because you didn't make them "enough" money.

So that's why EA's CEO is still there....

[JamesLT3]

So that's why EA's CEO is still there....

It sure is