Maxtor CEO Tufano Resigns; Ex-CEO Park Takes Helm

Last month, Maxtor reported a third quarter loss of $90.6 million, as the firm was hit by price erosion in its disk drives, as well as by additional financial charges. Shortly before the financial report, Maxtor's chief financial officer Michael Bless suddenly resigned and Tufano picked up the CFO duties then.

Charles Boesenberg, CEO and chairman of the board of NetIQ Corp., was appointed lead director of Maxtor, the firm reported. Boesenberg has been a member of the board since 2003.

In announcing the changes, Park noted that Tufano had been instrumental in growing the firm from about $800 million in 1996 to more than $4 billion in 2000.

Park, who most recently was a managing director at H&Q Asia Pacific investment firm, had also served as chairman of Maxtor's media manufacturing subsidiary, MMC Technology.