Santa Clara, Calif. – January 2, 2014 – Violin Memory, Inc. (NYSE: VMEM), a leader in persistent memory-based storage solutions, today announced that Dixon R. Doll, Jr. will step down from his position as Chief Operating Officer to pursue other personal and professional opportunities, effective today. Mr. Doll has also notified the Board that he will step down from his Board position effective today as well.
Howard A. Bain III, Chairman and interim Chief Executive Officer, said, “On behalf of the Board and the entire Violin team, I want to thank Dixon for his contributions to the Company over the past four years as we pioneered the future of flash storage in the enterprise data center. Dixon has played an instrumental role in our successful efforts to build a strong and deep bench of talent within our organization that remains focused on strengthening our customer relationships, increasing our engagement with customers and partners and driving operational efficiencies that will benefit all stakeholders.”
“I have a great deal of admiration and respect for the Violin team, and believe they are well positioned to remain at the forefront of our industry,” said Mr. Doll. “While this was a difficult decision, in light of recent changes at the Company, I believe that now is an appropriate time to let new leadership chart our future course. I wish the company every success and have tremendous confidence in the long-term growth opportunities for Violin.”
About Violin Memory
Violin Memory (NYSE: VMEM) enables businesses to access real-time information by delivering memory-based storage solutions that close the compute storage gap. Named by Gartner Inc. as the market share leader in flash-based storage systems, Violin Memory brings storage performance in-line with demanding, high-speed applications, servers and networks at disk economics. Violin Memory solutions are optimized from the ground up to leverage the inherent capabilities of flash memory, enabling performance of memory at compelling economics for business-critical applications, virtualized environments and big data in enterprise data centers. Founded in 2005, Violin Memory is headquartered in Santa Clara, California. For more information, visit www.vmem.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the pursuit of additional tactical initiatives to improve the overall cost efficiency of the business and improve sales leverage through Violin Memory’s partner and indirect channels as well as Violin Memory’s position to take advantage of the transition to a memory-based data center and build an even stronger future for all of its stakeholders. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: Violin Memory’s history of large purchases by a limited number of customers; its limited operating history, particularly as a new public company; risks associated with a transition in executive leadership; its relationship with Toshiba as its sole supplier of flash-based memory; as well as general market, political, economic and business conditions. Additional risks and uncertainties that could affect Violin Memory’s financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in the company’s quarterly report on Form 10-Q, which was filed with the U.S. Securities and Exchange Commission, and is available on the Company’s investor relations website at investor.violin-memory.com and on the SEC’s website at www.sec.gov. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and Violin Memory does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
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