SAN JOSE, Calif., Jan. 16, 2018 /PRNewswire/ -- Quantum Corp.
(NYSE: QTM) today announced that its board of directors has
appointed Patrick Dennis as
president and CEO, effective today. Dennis was most recently
president and CEO of Guidance Software and has also held senior
executive roles in strategy, operations, sales, services and
engineering at EMC. He succeeds Adalio
Sanchez, a member of Quantum's board who had served as
interim CEO since early November
2017. Sanchez will remain on the board and assist with the
transition.
"Patrick has been a successful public company CEO and brings a
broad range of experience in storage and software, including a
proven track record leading business transformations," said
Raghu Rau, Quantum's chairman. "The
other board members and I look forward to working closely with him
to drive growth, cost reductions, and profitability and deliver
long-term shareholder value. We also want to thank Adalio for
stepping in and leading the company during a critical transition
period."
"During my time as CEO, I've greatly appreciated the commitment
to change I've seen from team members across Quantum and will be
supporting Patrick in any way I can to build on the important work
we started," said Sanchez.
Dennis served as president and CEO of Guidance Software, a
provider of cyber security software solutions, from May 2015 until its acquisition by OpenText last
September. During his tenure, he turned the company around, growing
revenue and significantly improving profitability. Before joining
Guidance Software, Dennis was senior vice president and chief
operating officer, Products and Marketing, at EMC, where he led the
business operations of its $10.5
billion enterprise and mid-range systems division, including
management of its cloud storage business. Dennis spent 12 years at
EMC, including as vice president and chief operating officer of EMC
Global Services, overseeing a 3,500-person technical sales force.
In addition to his time at EMC, he served as group vice president,
North American Storage Sales, at Oracle, where he turned around a
declining business.
"With its long-standing expertise in addressing the most
demanding data management challenges, Quantum is well-positioned to
help customers maximize the strategic value of their ever-growing
digital assets in a rapidly changing environment," said Dennis.
"I'm excited to be joining the company as it looks to capitalize on
this market opportunity by leveraging its strong solutions
portfolio in a more focused way, improving its cost structure and
execution, and continuing to innovate."
About Quantum
Quantum is a leading expert in scale-out
tiered storage, archive and data protection, providing solutions
for capturing, sharing, managing 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. Sanchez remaining on the board,
assisting with the transition and supporting Mr. Dennis in building
upon the work already started; ii) the board members working with
Mr. Dennis to drive growth, cost reductions, and profitability and
deliver long-term shareholder value; iii) Quantum being
well-positioned to help customers maximize the strategic value of
their ever-growing digital assets in a rapidly changing
environment; and iv) Quantum looking to capitalize on market
opportunities by leveraging its strong solutions portfolio in a
more focused way, improving its cost structure and execution, and
continuing to innovate, 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 Annual Report on Form 10-K filed with the
Securities and Exchange Commission on June
1, 2017 and in Quantum's Quarterly Report on Form 10-Q filed
with the Securities and Exchange Commission on November 9, 2017. 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.
408-944-4044
brad.cohen@quantum.com
Brinlea Johnson or Allise
Furlani
Investor Relations
The Blueshirt Group
212-331-8424 or 212-331-8433
brinlea@blueshirtgroup.com or allise@blueshirtgroup.com
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SOURCE Quantum Corp.