Nov 13, 2012 (Marketwire via COMTEX) --Overland Storage (NASDAQ: OVRL), a trusted global provider of effortless data management and data protection solutions across the data lifecycle, today announced the appointment of Vic Mahadevan to its Board of Directors, effective November 13, 2012. Mr. Mahadevan was previously chief strategy officer at NetApp, and has over 25 years of senior level strategic planning and marketing experience. He assumes the Board seat vacated by the resignation of Shmuel Shottan.
"Vic's extensive knowledge and experience within data management and storage, including sales and marketing, strategic partnerships, product management, and long term strategic planning, will be a tremendous asset as we focus on accelerated revenue growth through continued adoption of our products in the marketplace," said Eric Kelly, President and CEO of Overland Storage. "We look forward to his contributions as we pursue opportunities to expand into new markets. I would also like to take this opportunity to thank Shmuel for his service and technology leadership, and wish him well as he takes on added responsibility in his expanded role within the Hitachi Data Systems organization."
Until 2012, Mr. Mahadevan was most recently chief strategy officer of NetApp and was responsible for long-term strategy and M&A for the company. This responsibility included developing go-to-market strategies with numerous global system integrators, forging significant strategic alliance partnerships, and initiating growth strategies to diversify global revenue. He also previously served as chief executive officer of Deeya Energy, NeoEdge Networks and MaXXan Systems (now CipherMax), as well as in executive positions at iVita and at LSI Corporation, where he served as vice president of marketing and oversaw all aspects of product management, outbound marketing, and business alliances.
About Overland Storage
Overland Storage is a trusted global provider of effortless data management and data protection solutions across the data lifecycle. By providing an integrated range of technologies and services for primary, nearline, offline, archival and cloud data storage, Overland makes it easy and cost effective to manage different tiers of information over time. Overland SnapServer®, SnapSAN™, NEO® and REO® solutions are available through a select network of value added resellers and system integrators. For more information, visit http://www.overlandstorage.com/.
Safe Harbor Statement
Except for the factual statements made herein, the information contained in this news release consists of forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believes," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates" and variations thereof, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and our actual results could differ materially from those contained in such statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain and increase sales volumes of our products; our ability to continue to aggressively control costs and operating expenses; our ability to achieve the intended cost savings and maintain quality with our new manufacturing partner; our ability to generate cash from operations; the ability of our suppliers to provide an adequate supply of components for our products at prices consistent with historical prices; our ability to raise outside capital and to repay our debt as it comes due; our ability to introduce new competitive products and the degree of market acceptance of such new products; the timing and market acceptance of new products introduced by our competitors; our ability to maintain strong relationships with branded channel partners; our ability to maintain the listing of our common stock on the NASDAQ Capital Market; customers', suppliers' and creditors' perceptions of our continued viability; rescheduling or cancellation of customer orders; loss of a major customer; general competition and price measures in the market place; unexpected shortages of critical components; worldwide information technology spending levels; and general economic conditions. Reference is also made to other factors detailed from time to time in our periodic reports filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.
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Investor Relations Contact:
Charles Messman
Todd Kehrli
MKR Group Inc.
323-468-2300
ovrl@mkr-group.com
