AP News

OCZ Technology co-founder and CEO Peterson resigns


SAN JOSE, Calif. (AP) — OCZ Technology Group Inc. said Monday that co-founder, president and CEO Ryan Peterson has resigned.

The company did not give a reason why Peterson, who helped found OCZ in 2002, is leaving. Peterson said in a statement that he is happy to have brought the company from niche developer and maker of memory modules to its global leadership position in solid-state storage.

The flash memory maker appointed Alex Mei, executive vice president and chief marketing officer, as interim CEO. Mei, who has been with the company since 2004, will hold both of his roles until a permanent CEO has been found.

OCZ, based in San Jose, Calif., designs, makes and distributes high-performance solid-state drives used in mobile devices.

The company posted a fiscal first-quarter loss in July as it struggled with supply-chain and sales issues. It will report second-quarter results on Oct. 10.

Shares fell 36 cents, or 8.1 percent, to $4.10 in after-hours trading. The stock has ranged from $3.90 to $10.05 in the past 52 weeks.


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