Street Calls of the Week
CENTENNIAL, Colo. - Quantum Corporation (NASDAQ:QMCO) announced Wednesday the appointment of Gregg Pugmire as Vice President of Americas Sales, where he will lead sales strategy and execution across the U.S., Canada, and Latin America. The appointment comes as the company, with a market capitalization of approximately $99 million, faces challenging market conditions. According to InvestingPro data, the company’s stock has shown significant volatility, with a 153% return over the past year despite recent headwinds.
Pugmire brings over 30 years of experience in technology solutions including data storage, unmanned aerial systems, and hyperconverged cloud software. He holds both Bachelor’s and Master’s degrees in Electrical Engineering from Brigham Young University.
"Gregg is a proven leader with a strong track record of aligning innovative technologies with the practical needs of customers and partners," said Tony Craythorne, chief revenue officer for Quantum, in a press release statement.
In his new role, Pugmire will focus on accelerating growth and expanding customer adoption of Quantum’s data management solutions, which support data lifecycle management from ingest and collaboration to protection and long-term archiving.
"I’m thrilled to join Quantum at such an exciting stage in its journey," Pugmire stated.
Quantum Corporation, listed on Nasdaq, specializes in end-to-end data management solutions designed for unstructured data. The company serves organizations across various sectors including life sciences, government, media and entertainment, research, and industrial technology. With a gross profit margin of 40%, the company maintains a strong market position despite operational challenges. Discover more detailed insights and 11 additional ProTips about QMCO’s performance in the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Quantum Corporation has been actively involved in several significant developments. The company announced the introduction of two new models in its DXi T-Series data protection line, offering up to 480 TB of raw NVMe capacity in a compact 1U form factor. This move aims to cater to environments requiring high-performance data protection. Additionally, Quantum has expanded its distribution network across Asia-Pacific markets by partnering with regional distributors in China, India, Taiwan, and the ASEAN region to enhance its presence and meet the growing demand for advanced data protection services.
Quantum also recently appointed Hugues Meyrath as CEO, succeeding Jamie Lerner, with Donald J. Jaworski taking on the role of Chairman of the Board. Meyrath, with extensive experience in the storage industry, aims to guide the company towards consistent profitability and growth. In a regulatory filing, Quantum disclosed a delay in filing its annual report for the fiscal year ended March 31, 2025, due to an ongoing review of its accounting practices related to certain revenue contracts. Furthermore, the company has notified its Chief Revenue Officer, Henk Jan Spanjaard, of the intent to negotiate the termination of his employment, although specific details were not disclosed.
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