Quantum Announces Leadership Changes

Quantum Corporation announced leadership changes supporting its efforts to transform Quantum’s ability to deliver consistent profitability and growth.

The Company appointed Hugues Meyrath as its new CEO, effective June 2. Meyrath is a storage industry veteran with over 30 years of experience, most of which includes affiliation with Quantum as a supplier, employee, competitor, and independent member of the Company’s board of directors.

“I am extremely excited to continue my journey with Quantum, now as CEO. I deeply appreciate the value and direction of the Company’s technology, products, and potential, and look forward to working more closely with the Quantum team to unlock growth opportunities,” said Meyrath.

Meyrath succeeds Jamie Lerner, who served as CEO since July 1, 2018. Meyrath continued, “I would like to thank Jamie for his many contributions to Quantum’s history and future. He navigated multiple challenges that many CEOs never see at all, let alone in combination. Without Jamie’s leadership, we would not have the same opportunity ahead of us.“

With Lerner’s departure, the Company named current Lead Independent Director Donald J. Jaworski as its new COB, also effective June 2. “Appointing a new CEO provided a good opportunity to strengthen the Company’s corporate governance practices by separating the roles of CEO and Board Chair. I believe Quantum is well-positioned to serve the evolving needs of today’s AI-driven organizations and expect that Hugues will use his new position to drive further progress toward achieving the Company’s growth initiatives,” commented Jaworski.

Quantum also announced that chief administrative officer Brian E. Cabrera would be leaving the company. Meyrath said: “I want to recognize Brian for his significant accomplishments in his time here. Brian transformed how we approach solving business problems and was instrumental in our efforts to raise new capital, mitigate legal risks, and chart our path forward. I am grateful for his service.“

Finally, the company provided an update on its efforts to transform its capital structure. Quantum has raised approximately $60 million to date from its previously announced standby equity purchase agreement. In addition, it continues to make progress with its lenders to restructure its remaining outstanding debt to better position the Company for future success. “This is an exciting time for Quantum. We’re continuing to penetrate the market with our new product initiatives, while maintaining a solid position with our core offerings. We are also strengthening the health of the Company. We believe our ongoing restructuring efforts will position us well to take advantage of our growth opportunities,” stated Meyrath.

At this time, the company is not making any changes to its previously announced preliminary financial results for its fiscal 4th quarter of fiscal year 2025 ended March 31, 2025.