THE chief executive of Havant data storage firm Xyratex has stepped down.
Steve Barber has been replaced in the interim by Ernie Sampias while the firm’s board searches for a permanent CEO.
The change in leadership has come ahead of the firm’s first quarter results announcement, due today.
Mr Barber has been chief executive of the firm, based at Langstone Technology Park, since February 2003.
Since the company’s listing on Nasdaq in 2004 he grew annual revenues from $459m (£304m) to around $1.16bn (£768m) in 2012.
The firm’s chairman, Jonathan Brooks, said: ‘We thank Steve for his enormous contribution to Xyratex’s development, especially the dedication and energy he brought to the company.
‘Steve has worked hard to lead the company through the many transitions in our industry and we appreciate the leadership he has demonstrated over the years.
‘With the challenges the company faces in a rapidly changing industry, we have mutually agreed that this is the right time for a leadership transition.
Mr Barber added: ‘Xyratex is an outstanding company with very talented employees, and I have been proud to serve as the company’s CEO.
‘We have accomplished a great deal together in the last 10 years that I have been CEO, but I feel now is the right time for me to pass the baton and let new leadership take the company into its next phase of innovation and growth.
‘I remain very optimistic about Xyratex’s future in the hands of a great team which will drive the company to the next phase.’