Silicon Graphics International (SGI) announced Wednesday morning that Mark J. Barrenechea has tendered his resignation as president, CEO and member of the Board of Directors, effective January 1, 2012. Ronald D. Verdoorn, Chairman of the Board of Directors, will serve as interim CEO while the board conducts a search for a replacement.
Silicon Graphics International gapped open lower Wednesday and spiked to the downside in early trade, but settled into a range for the majority of the day. The stock finished down by 2.55 at $11.48 on the highest volume of the year and closed at over a 2-month low.
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