CEO: Gary Quinn
FalconStor appointed Gary Quinn to be the company's new president and CEO in late July. Quinn had been serving in that post for about a month on an interim basis following the sudden resignation of President and CEO Jim McNiel on July 1.
In the first nine months of 2013 (ended Sept. 30), the maker of disk-based data protection and storage virtualization technologies saw its sales decline 17 percent year-over-year to $44.0 million and a reported loss from operations of $12.6 million. In the third quarter, the company closed an equity investment of $9.0 million from Hale Capital Partners. During the fourth quarter, the company began cutting costs, including employee cutbacks.