Ho out, Orton In

[Dave Baumann]

OSC troubles have dogged ATI's CEO for a while now, and it looks like in order to resolve them he's stepped aside and now Dave Orton has been named CEO of ATI.

http://www.beyond3d.com/forum/viewtopic.php?p=247812#247812

 

[Doomtrooper]

It was only a matter of time.

 

[CapsLock]

So, is this a good thing for Ati? Seems there is a lot of credit given to Orton for Ati's success. Will this change anything direction wise? How about them Nicks?



Caps

 

[Veridian3]

As I understand it DO has been running the company for the most part recently anyway. KY has been an advisor to him when needed. This announcement really just makes DO's position official and KY will move on to more chairman related roles.

Basically business as usual.

 

[PatrickL]

Well there is a conference call today. So depending the results we may have some ground to speculate if it was expected now or not

 

[PatrickL]

First esults seems exceptionnally good in fact:

Canadian chipmaker ATI Technologies (ATYT:Nasdaq - commentary - research) returned to a profit in its fiscal second quarter and announced its CEO was stepping down.

Net income increased to $47.6 million, or 19 cents a share, vs. a loss of $9.4 million, or 4 cents a share, a year ago. Analysts were expecting a profit of 16 cents a share, according to Thomson One Analytics.

from: http://www.thestreet.com/_yahoo/tech/earnings/10151523.html

 

[digitalwanderer]

So, is this a good thing for Ati? Seems there is a lot of credit given to Orton for Ati's success. Will this change anything direction wise?

This is a GREAT thing for ATi, and I believe it means that ATi will just keep heading in the direction it's been going but even more so now with Dave in charge. 8)

Congrats to ATi and Mr. Orton, and much success and good fortunes to 'em.

 

[Mindriot]

Does that mean that the COO position is open?

Digi

Definite Congats to Dave Orton. He's the man that got the ball rolling. Now keep all the fancy pixels comming!

 

[digitalwanderer]

Does that mean that the COO position is open?

Digi

I am not currently seeking nor have I heard anything from ATi yet about that position, but if they were to ask me I would definately have to give it some serious consideration. 8)

 

[oddfellow]

Does that mean that the COO position is open?

Digi

I am not currently seeking nor have I heard anything from ATi yet about that position, but if they were to ask me I would definately have to give it some serious consideration. 8)

I already applied!

 

[Nil Sanyas]

It was only a matter of time.

I agree with you.

This news was foreseeable.

 

[tazdevl]

As others have said, not a surprise.

Dave is the main reason the company turned around over the last couple years, he helped get everyone's head screwed on straight. However, you do have to give Ho credit for realizing that he didn't have what it takes to elevate the company to the next level. That's the sign of a very good leader.

I doubt the securities investigation is the primary reason for Ho stepping down. He is still chairman and the CEO still is accountable/reports to the chairman and BOD.