San Jose-based OCZ Technology Group is switching CFOs.
On Monday, the maker of solid-state memory drives announced that its chief financial officer of nine years, Arthur Knapp, is retiring and will be replaced by Rafael Torres.
Torres comes to OCZ from Alcatel-Lucent subsidiary Capella Photonics, where he served as CFO up through the switchmaker’s January acquisition by larger Lucent. He also has experience in that position in two other Nasdaq-listed firms, $1.2 billion market-capped Power Integrations and smaller PLX Technology. In each case, OCZ says that Torres helped to engineer turnarounds at businesses that had come upon difficult times — such as those encountered by unprofitable OCZ.
OCZ shares gained 3.9% in Monday trading, closing at $1.85 per share ahead of the news.
The article OCZ Picks a CFO originally appeared on Fool.com.
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