Maxtor Corporation (NYSE: MXO) today announced that Paul Tufano has lefthis positions as president, chief executive officer and acting chieffinancial officer, effective immediately. Mr. Tufano has also resignedfrom the board of directors. Dr. C. S. Park has been appointed chiefexecutive officer, effective immediately. In addition, Charles M.Boesenberg, chief executive officer and chairman of the board of NetIQCorporation and a member of the Maxtor board since 2003, has been appointedas its lead director. The company is continuing its search for a chieffinancial officer.
"The Board thanks Paul for the significant contributions that he madeduring his eight years as a senior executive with Maxtor," said Dr. Park."During his tenure, Paul was instrumental in growing the company fromapproximately $800 million in revenue in 1996 to over $4.0 billion in 2003,strengthening the balance sheet, and moving Maxtor forward into emergingmarkets for hard drives. We wish him well in his future endeavors."
"As we look ahead, we remain very optimistic about the outlook for the harddrive industry and for Maxtor," Dr. Park continued. "The executive team,with the support of our talented employees, will be working hard to returnthe company to profitability as soon as possible."
Dr. Park, 56, has been on Maxtor's board of directors since 1994, servingas chairman of the board since 1998. He was most recently a managingdirector and investment partner at H&Q Asia Pacific. Prior to that, he waschairman and chief executive officer of Hynix Semiconductor Inc. From 1995to 1996, Dr. Park was president and chief executive officer of Maxtor.From 1996 to early 2000, he was also chairman of MMC Technology, the diskmedia manufacturing subsidiary of Maxtor.
Over Maxtor
Maxtor Corporation (www.maxtor.com) is een van 's werelds meest vooraanstaande leveranciers van oplossingen voor informatieopslag. Het bedrijf voert een breed spectrum opslagproducten voor PC's, servers met Intel-processoren en consumentenelektronica producten. Maxtor heeft een degelijke reputatie als marktleider opgebouwd door haar afnemers sinds jaar en dag hoogwaardige producten en ondersteuning te bieden. Kijk voor meer informatie over Maxtor en haar producten op www.maxtor.com. Maxtor is genoteerd aan de effectenbeurs van New York.