Founder and CEO Ryan Petersen is out at OCZ


— 4:43 PM on September 17, 2012

OCZ founder and CEO Ryan Petersen has resigned from the company.

In the official press release, Petersen is thanked for his contributions to the DRAM and SSD industries by OCZ's Lead Director, Adam Epstein. Petersen doesn't give an explanation for his exit, but Bright Side of News suggests he was ousted by the board for OCZ's "recent missteps." A rumored acquisition by Seagate is said to have fallen through, and OCZ's financial performance has been less than stellar lately. Perhaps OCZ's numerous failed ventures factored into Petersen's exit, as well.

Petersen started OCZ a decade ago and has been CEO since day one. The company had humble beginnings catering to enthusiasts with fancy memory and has since become one of the biggest makers of solid-state drives, including those targeting enterprise customers. Along the way, OCZ has dabbled in graphics cards, coolers, peripherals, and even complete systems. None of those ventures stuck, and DRAM isn't even a part of the firm's current business, which consists of SSDs, PSUs, and the odd thumb drive. SSDs make up the overwhelming majority of the company's revenue now.

Executive Vice President Alex Mei has been named OCZ's interim CEO. He's been with the company since 2004, just two years after its inception.

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