14 DAY TRIAL // A company is only as skilled in managing its assets as its leading staff, and the chief financial officer has a lot of say in how funding is distributed, which is why having the right person in that position is essential.
OCZ Technology Group has just chosen someone new to take up that post, replacing Arthur Knapp, age 64, who is leaving the company to begin his retirement.
"I enjoyed being involved with a very talented team who built a multi hundred million dollar SSD business basically from scratch," stated Art Knapp, retiring CFO for OCZ Technology.
"While we uncovered some issues in recent times, with achievements such as the recent financing, I feel that we have made significant progress to put the Company back on the right path. Rafael will inherit a good business, with clean financials, to use as a base to build a profitable business."
The new CFO is Rafael Torres, who holds a Bachelor of Science Degree in Accounting from Santa Clara University and is a Certified Public Accountant.
Prior to joining OCZ, he was the CFO and vice president of finance for Capella Photonics, where he secured financial growth for the startup.
Even before that, he was the CFO and vice president of finance for Power Integrations (NASDAQ), which he essentially helped pick itself up after a financial downturn.
Prior to his stint with Capella, Torres was the CFO and vice president of finance for PLX Technology, which he returned to profitability.
"I am very excited to join OCZ at this time of its evolution being highly regarded for its technological advances and extensive portfolio of award-winning client and enterprise solid-state drives and power supply units," said Rafael Torres.
"My skill set and experience in strategic business planning, risk management, SEC reporting, treasury operations, accounting and tax management are an ideal fit for helping make an immediate contribution to the success of the Company moving forward."