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OCZ Technology Group CEO Resigns

Could this be the big change that the company needs to succeed?

It seems OCZ Technology Group hasn't had much luck over the last few months, starting the year off with a bigger loss than analysts hoped for. Issues with shipping orders followed that meaning they couldn't meet demand and again losing them money. Then their CFO (Arthur Knapp) announced he was to retire, then followed losses after a shortage of NAND flash had them around $10-20M out from their quarterly estimate. Follow that with the recent announcement of CEO Ryan Peterson resigning and Alex Mai taking place as interim CEO, its certainly not sounding like a success story.

The thing is with OCZ, they make great products, I personally know a fair few people who swear by their hardware and its proving popular with many gaming enthusiasts and system builder, but market sales don't always mean a net profit. With the CEO and CFO now off pursuing other ventures, the company has a clear shot of getting in some new management that could really turn things around, but not without some major changes to how they operate if they are going to turn around their losses in a reasonable amount of time.

OCZ have one big market advantage when it comes to SSD manufacturing, they own their own hardware, such as the controller technology for their drives, which they acquired at the great expense of $32M in stock from Indilinx, making all their drives producible in-house, something that even Intel and Micron don't do.

So with the company's founder now out of the picture, it stands to the new managements and the board of directors to push things forward, its an uncertain time for the company, but only time will tell if things are going to improve, either way, we wish them the best of luck.