SMCI Taps Former Western Digital CFO as New Finance Boss; Shares Tumble

3-line summary

• Super Micro Computer (SMCI) named Mark Long as its new senior VP and CFO, effective immediately, per Investing.com; he reports directly to CEO Charles Liang. Long previously served as CFO and chief strategy officer at Western Digital overseeing finance, investor relations and corporate strategy, co-founded tech investment firm Prime Impact Capital, and was an SVP at Hitachi Global Storage Technologies. Outgoing CFO David Weigand will help with the transition before shifting to another role at the company; the report did not specify the reason for the change, which comes nearly two years after SMCI began searching for a new finance chief following a third-party accounting review.
• SMCI shares fell more than 8% in early trading after the announcement, though the report attributed the drop mainly to a broader semiconductor-sector selloff (the Nasdaq fell over 1% at the open) tied to hot PPI data and renewed Fed rate-hike concerns, rather than the CFO change itself.

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