Adaptec chief financial officer quits

Andy Brown, chief financial officer at computer storage vendor Adaptec, has resigned. Bob Stephens, president and chief executive, will take over as an interim measure until a replacement is named.

Andy Brown, chief financial officer at computer storage vendor Adaptec, has resigned. Bob Stephens, president and chief executive, will take over as an interim measure until a replacement is named.

Brown left after 12 years with the company to pursue other interests, Adaptec said. "The last 12 years have been incredibly rewarding, both professionally and personally," said Brown. "I have seen Adaptec grow from a small company to gain Nasdaq 100 and S&P 500 status."

Stephens denied that the resignation was related to Adaptec's disappointing performance. "During the past 12 years Andy has made significant contributions to Adaptec's growth and success," he said.

He added that the company's second quarter results, ending in September, will meet analyst expectations. Both First Call and Thomson Financial predict that Adaptec's profit will fall by about 18 per cent, excluding goodwill, on the same period last year. Turnover for that period was $194m, yielding $49m profit.

In an attempt to promote its Raid technology, Adaptec has launched its 'Raid Everywhere' initiative. Software has been updated to incorporate simplified installation and support options, and management software tools have been upgraded.

The company also unveiled two 64bit Ultra160 SCSI Raid controllers - the 3200S and 3400S - which come in two- and four-channel versions, respectively. Additionally, Adaptec has introduced the 2100S, a half-size, single-channel Ultra160 Raid controller.

First published in Computer Reseller News