SAN JOSE, Calif., April 18, 2016 /PRNewswire/ -- Quantum Corp.
(NYSE: QTM) today announced that Fuad
Ahmad has been appointed senior vice president and CFO,
effective April 15, 2016. He brings
25 years of financial experience to the role, including over 12
years as a CFO for three different public and private companies.
Ahmad is currently a partner at FLG Partners LLC, a leading CFO
consulting and board advisory firm based in Silicon Valley.
"Fuad has a broad range of executive experience driving
increased growth and profitability in different technology
sectors," said Jon Gacek, president
and CEO of Quantum. "This experience will serve Quantum well as we
build on the progress we made in key areas during fiscal 2016 and
look to capitalize on our scale-out storage opportunities, to
further leverage our data protection assets and to deliver greater
shareholder value in this new fiscal year and beyond."
Ahmad joined FLG Partners in 2013 and has been advising various
companies on matters ranging from scaling their operations and
growth and financing strategies to restructuring and
reorganizations. Prior to FLG Partners, he was CFO of Sezmi Inc., a
provider of cloud-based, turnkey video solutions for personalized
and multi-screen offerings serving telecommunications,
media/content and ISP companies. During his tenure, Ahmad played a
central role in tripling revenue growth while reducing operating
expenses more than 50 percent.
From 2004 to 2010, Ahmad was senior vice president and CFO of
Globalstar Inc., an industry-leading provider of mobile satellite
voice and data services with operations in over 30 countries
servicing more than 650,000 subscribers. While at the company, he
led its IPO following a period of robust growth and
profitability.
"The storage challenges posed by more demanding workflows and
the strength of Quantum's product portfolio in addressing these
challenges are providing new opportunities for the company, which
is reflected in the positive preliminary fourth quarter results
announced today," said Ahmad. "I look forward to working with Jon
and the rest of the management team to capitalize fully on these
opportunities and deliver increased growth, profitability and cash
flow."
About Quantum
Quantum is a leading expert in
scale-out storage, archive and data protection, providing solutions
for capturing, sharing and preserving digital assets over the
entire data lifecycle. From small businesses to major enterprises,
more than 100,000 customers have trusted Quantum to address their
most demanding data workflow challenges. Quantum's end-to-end,
tiered storage foundation enables customers to maximize the value
of their data by making it accessible whenever and wherever needed,
retaining it indefinitely and reducing total cost and complexity.
See how at www.quantum.com/customerstories.
Quantum and the Quantum logo are registered trademarks of
Quantum Corporation and its affiliates in the United States and/or other countries. All
other trademarks are the property of their respective owners.
"Safe Harbor" Statement: This press release contains
"forward-looking" statements. All statements other than statements
of historical fact are statements that could be deemed
forward-looking statements. Specifically, but without limitation,
statements relating to: i) Mr. Ahmad's experience serving Quantum
well as we look to capitalize on our scale-out storage
opportunities, to further leverage our data protection assets and
to deliver greater shareholder value in this new fiscal year and
beyond, and ii) Mr. Ahmad working with management to capitalize
fully on our opportunities and deliver increased growth,
profitability and cash flow, are forward-looking statements within
the meaning of the Safe Harbor. All forward-looking statements in
this press release are based on information available to Quantum on
the date hereof. These statements involve known and unknown risks,
uncertainties and other factors that may cause Quantum's actual
results to differ materially from those implied by the
forward-looking statements. More detailed information about these
risk factors are set forth in Quantum's periodic filings with the
Securities and Exchange Commission, including, but not limited to,
those risks and uncertainties listed in the section entitled "Risk
Factors," in Quantum's Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission on February 5, 2016 and in Quantum's Annual Report
on Form 10-K filed with the Securities and Exchange Commission on
June 12, 2015. Quantum expressly
disclaims any obligation to update or alter its forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable law.
Contact:
Brad Cohen
Public Relations
Quantum Corp.
+1 (408) 944-4044
brad.cohen@quantum.com
Brinlea Johnson or Allise
Furlani
Investor Relations
The Blueshirt Group
+1 (212) 331-8424 or +1 (212) 331-8433
brinlea@blueshirtgroup.com or allise@blueshirtgroup.com
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SOURCE Quantum Corp.