Overland Storage Names Scott McClendon Interim President and CEO
02 November 2006 - 11:00PM
PR Newswire (US)
Director Mark Barrenechea to Chair New Strategy Committee SAN
DIEGO, Nov. 2 /PRNewswire-FirstCall/ -- Overland Storage, Inc.
(NASDAQ:OVRL) today announced that its board of directors has named
chairman of the board Scott McClendon as the company's interim
president and chief executive officer, replacing Christopher P.
Calisi who served in those positions since 2001. McClendon served
as Overland's president and chief executive officer from 1991 to
2001, and has served as chairman since that time. Prior to
Overland, McClendon was employed by Hewlett-Packard Company for
over 32 years in various positions in engineering, manufacturing,
sales and marketing. The board is initiating a search for a
permanent chief executive officer. The board also created a new
strategy committee to be chaired by director Mark J. Barrenechea,
which will provide input to the board and management in the
development of the company's corporate strategy. The board also
designated Barrenechea as chairman of the standing special
committee on shareholder value. Barrenechea has served in senior
executive roles at Computer Associates International, Inc. and
Oracle Corporation. In June 2006, he joined the venture buyout firm
Garnett & Helfrich Capital as a director. While in his interim
role, McClendon will step down from his positions as chairman of
the compensation committee and member of the audit committee, but
he will remain chairman of the board and a member of the special
committee on shareholder value and serve on the newly created
strategy committee. Director Michael Norkus will replace McClendon
on the audit committee. "I look forward to working closely with
Mark Barrenechea and the entire board on developing and executing
Overland's strategy as we search for a permanent CEO," said
McClendon. About Overland Storage Now in its 26th year, Overland
Storage is a market leader and innovative provider of simply
protected storage solutions -- smart data protection appliances and
software modules designed to work together, affordably, to ensure
that information is automatically safe, readily available and
always there. Overland's award-winning data protection solutions
include the ULTAMUS SERIES(TM) of protected primary storage
appliances; the REO SERIES(R) of disk-based backup and recovery
appliances; and the NEO SERIES(R) and ARCvault(TM) tape automation
solutions. Overland sells its products through leading OEMs,
commercial distributors, storage integrators and value-added
resellers. For more information, visit Overland's web site at
http://www.overlandstorage.com/. Overland, Overland Storage, REO
SERIES, NEO SERIES and ARCvault are trademarks or registered
trademarks of Overland Storage, Inc. DATASOURCE: Overland Storage
CONTACT: Vernon A. LoForti, CFO, +1-858-571-5555 ext. 4106, , or
Cynthia A. Bond, Director of Corporate Communications,
+1-858-571-5555 ext. 4269, , both of Overland Storage Web site:
http://www.overlandstorage.com/
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