Friday, August 10, 2007

Overland Storage Names CEO

San Diego-based Overland Storage said yesterday that it has named a new CEO at the tape storage provider, Vern LoForti. LoForti has been Overland's CFO for the past 12 years, and now holds the title of President and CEO. LoForti also serves on the company's board of directors. LaForti takes over the position for Scott McClendon, who was serving as interim president and CEO since the abrupt loss of CEO Chris Calisi in November. McClendon remains as chairman. The appointment came as the firm reported a net loss of $44.1M on revenues of $160.4M for the firm's fiscal year, which ended June 30th.