FalconStor's CEO Resigns
Symbols: FALC
Morgan Keegan has published a research report on FalconStor Software (NASDAQ: FALC), after FalconStor announced the resignation of its CEO.
In the report, Morgan Keegan writes "Early this morning, FalconStor announced that ReiJane Huai resigned from his posts of President, CEO, and Chairman of the Board effective immediately. As a result of Mr. Huai's resignation, the Board appointed Eli Oxenhorn, (current board member), as Chairman of the Board, Jim McNiel (current Chief Strategy Officer) as interim CEO and interim President, and Jim Weber (current CFO) as CFO and interim COO."
Morgan Keegan maintains its Outperform rating and $4.40 price target.
FalconStor Software closed yesterday at $3.15.
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