SGH Announces CFO Transition Plan
May 14 2024 - 3:10PM
Business Wire
Jack Pacheco, SGH COO and Former CFO, to
Serve as Interim CFO Reiterates Financial Guidance Provided
on April 9, 2024
SMART Global Holdings, Inc. (“SGH” or the “Company”) (NASDAQ:
SGH) today announced that Ken Rizvi, senior vice president and
chief financial officer (“CFO”), will depart the Company on June
30, 2024 to pursue another opportunity. Effective upon Mr. Rizvi’s
departure, Jack Pacheco, the Company’s chief operating officer
(“COO”) and president of Memory Solutions, and its former CFO, will
assume the role of interim CFO while the Company searches for a
permanent successor.
“I want to thank Ken for his leadership and contributions to
SGH. He leaves behind a stronger organization both operationally
and financially. We are grateful for his work and wish him all the
best in his new role,” commented Mark Adams, CEO. “As we continue
our transformation, we remain focused on our growth in the
high-performance, high-availability enterprise AI solutions market.
We look forward to welcoming a new CFO who will help us continue to
execute on this strategy.”
Mr. Rizvi added, “The transformation of SGH over the past
several years has been remarkable. I am excited about the growth
opportunities that lie ahead, leveraging the AI and HPC
capabilities of our Penguin Solutions business. The last three
years have been an amazing professional journey, and I am grateful
to Mark and the team for the opportunity. I am proud of what we
have accomplished together.”
Mr. Pacheco, who will take on the interim CFO role, brings
extensive experience and institutional knowledge to the position as
both COO and the former CFO, which will ensure continuity as the
Company continues its growth strategy.
Additionally, SGH is reaffirming its financial outlook for the
third quarter of fiscal 2024 as described in its earnings release
on April 9, 2024.
About SMART Global Holdings – SGH
At SGH, we design, build, deploy, and manage high-performance,
high-availability enterprise solutions that help our customers
solve for the future. Across our computing, memory, and LED lines
of business, we focus on serving our customers by providing deep
technical knowledge and expertise, custom design engineering,
build-to-order flexibility, and a commitment to best-in-class
quality.
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version on businesswire.com: https://www.businesswire.com/news/home/20240514376158/en/
Investor Contact: Suzanne Schmidt Investor Relations
+1-510-360-8596 ir@sghcorp.com
PR Contact: Valerie Sassani VP of Marketing and
Communications +1-510-941-8921 pr@sghcorp.com
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