Thursday, October 24, 2013

Ixia's CEO Resigns over Misstated Credentials

Vic Alston has resigned as President and CEO of Ixia and as a member of its board of directors.

Ixia said its audit committee discovered that although Alston had attended Stanford University, he had misstated his academic credentials, incorrectly claiming to have received a B.S. and a M.S. in Computer Science, and had misstated his age and early employment history.

The board has appointed Errol Ginsberg, Ixia’s chairman of the board, founder and former CEO as acting CEO (in addition to his current role as chief innovation officer), and Alex Pepe, senior vice president, strategy, as chief operating officer.

Ixia also reaffirmed its revenue guidance for the third quarter ended September 30, 2013 and expects revenue to be above the midpoint of its previously stated guidance range of $112 million to $117 million.