Quantum Appoints New CEO, Chairman Amidst Restructuring Efforts: Retail Keeps Faith
Synopsis
The company named Hugues Meyrath as its chief executive and Donald J. Jaworski as Chairman, and also announced the raising of $60 million towards capital restructuring.
AI-driven data storage solutions provider Quantum Corporation (QMCO) announced significant leadership changes and financial restructuring efforts aimed at enhancing profitability and positioning the company for future growth.
Hugues Meyrath has been appointed as the new Chief Executive Officer, effective Jun. 2.
With over 30 years of experience in the storage industry, Meyrath has been affiliated with Quantum in various capacities, including supplier, employee, competitor, and board member.
His appointment is expected to drive Quantum's transformation and strategic initiatives.
In conjunction with Meyrath's appointment, Donald J. Jaworski has been named Chairman of the Board, also effective Jun. 2.
Additionally, Brian E. Cabrera, the company's Chief Administrative Officer, will be leaving Quantum.
Quantum also said it has made progress in restructuring its capital composition. The company has raised approximately $60 million to date through its previously announced standby equity purchase agreement.
Furthermore, the company continues to work with its lenders to restructure its remaining outstanding debt, which is expected to better position Quantum for future success.
Despite these changes, Quantum maintained its previously announced preliminary financial results for the fiscal fourth quarter (Q4) of 2025, ending March 31, 2025.
For Q4, the company anticipates a revenue of $66 million, plus or minus $2.0 million, adjusted basic net loss per share (EPS) of $1.16, plus or minus $0.05, and an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of about $1.7 million.
On Stocktwits, retail sentiment around Quantum remained in ‘bullish’ territory with ‘extremely high’ message volume.
A Stocktwits user expressed optimism on the new CEO appointment.
Quantum stock has lost over 77% in 2025 and gained over 23% in the last 12 months.
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