STEC CFO Dan Moses Will Retire

STEC, Inc. announced that Dan Moses, STEC’s Chief Financial Officer and Executive Vice President, plans to retire upon the conclusion of a search for his successor and the completion of an orderly-transition process. Mr. Moses, who joined STEC shortly after its inception in 1992, has elected to retire after a successful career at STEC.

"Dan has been a tremendous asset to STEC throughout the years," said Manouch Moshayedi, STEC’s Chairman and CEO. "I thank Dan for his unwavering dedication and substantial contributions to STEC and wish him well in his retirement. We have begun a search for a new CFO, and we are pleased that Dan will continue in his position until a new CFO is hired and will play an active role in our selection process. After hiring a new CFO, Dan will remain with the Company through the transition period. He will remain a member of our Company’s Board of Directors after his retirement."

"It has been a privilege to work at STEC for the past 16 years and help the Company establish a leadership position in the high-performance memory and solid-state storage markets," said Dan Moses. "I am proud of the highly-capable team we have built. Their dedication and support have served me well and I am very pleased that the Company has developed a strong financial foundation and has maintained a solid balance sheet throughout my tenure. I am also committed to ensuring a smooth transition of my responsibilities, and am looking forward to continuing to contribute to the Company through my on-going role on the Board of Directors."