Quantum (QMCO) announced leadership changes, 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. Meyrath succeeds Jamie Lerner, who served as CEO since July 1, 2018. With Lerner’s departure, the company named current lead independent director Donald Jaworski as its new chairman of the board, also effective June 2. Quantum also announced that chief administrative officer Brian Cabrera would be leaving the company. Finally, the Company provided an update on its efforts to transform its capital structure. Quantum has raised approximately $60M 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.
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