logo
Plus   Neg
Share
Email

Ixia CEO Quits; Misstated Academic Credentials, Age, Early Employment History

Ixia (XXIA) announced that Vic Alston has resigned as its President and CEO and as a member of its board following a determination by the company's audit committee that although he had attended Stanford University, he had misstated his academic credentials, incorrectly claiming to have received a B.S. and a M.S. in Computer Science, and had misstated his age and early employment history.

The company said it has appointed Errol Ginsberg, Ixia's chairman of the board, founder and former CEO as acting CEO, in addition to his current role as chief innovation officer, and Alex Pepe, senior vice president, strategy, as chief operating officer.

Ixia also reaffirmed its third quarter revenue guidance and expects revenue to be above the midpoint of its previously stated guidance range of $112 million to $117 million.

The company plans to commence a search to identify a permanent CEO.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Billionaire entrepreneur Elon Musk on Thursday showed off his concept for the Loop, a high-speed underground public transportation system that will carry up to 16 people and travel at 150 miles per hour. At the Boring Company Information Session, Musk and project leader Steve Davis provided details of the underground mass transit tunnels that the Boring Co. plans to build beneath Los Angeles. Raden has become the second smart luggage company to shut down this month after major U.S. airlines banned smart luggage with non-removable batteries earlier this year. In a statement on its website, Raden said that it is no longer in operation and that all existing shipments have been processed for delivery. The company is shuttering after three years of operation. Shares of AstraZeneca were losing around 2 percent in the London trading after the British drug major reported Friday lower profit in its first quarter amid weak margin, despite growth in product sales. Further, the company reiterated its outlook for fiscal 2018. The level of Externalisation Revenue, divestment timing and investment in launches impacted the overall results.
Follow RTT