Raghu Rau Executive Chairman, Quantum

Quantum Corp. announced that its board of directors has appointed current chairman Raghu Rau to serve as executive chairman on a temporary basis.

In this role, he will exercise more active operational and strategic oversight on behalf of the board, including participating in investor meetings and conferences and assisting Quantum’s management team with engagement of company stakeholders.

In addition, the board has formed a Strategy Committee to help implement the company’s previously announced transformation initiative – including assessing and acting on the recommendations of AlixPartners and evaluating Quantum’s strategy in the context of changing market dynamics – and drive shareholder value. The committee will be led by Alex Pinchev as chairman, and Adalio Sanchez, Marc Rothman and Rau will serve as members.

“I am honored to be taking on the role of Executive chairman as the company launches its transformation initiative,” said Rau. “As previously indicated, the newly reconstituted board is fully committed to acting with a sense of urgency to deliver value to our shareholders, and this is another step in that regard. I am very pleased that we have formed the Strategy Committee and commenced our engagement with AlixPartners. The board and our senior management team have begun working closely with the firm to aggressively pursue cost savings that will also enhance our ability to invest in growth initiatives and drive greater innovation to meet customers’ needs.”

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2017.08.16 | Press Release