Belluzzo to join Quantum as CEO

Richard Belluzzo, who stepped down May 1 as president and chief operating officer at Microsoft Corp., will take over as CEO of data storage systems company Quantum Corp. on Sept. 3.

Belluzzo, also a former Hewlett-Packard Co. executive and Silicon Graphics Inc. CEO, will replace outgoing CEO Michael Brown, the company said today in a statement.

Belluzzo's new job will start days after he ends a three-year stint at Microsoft, where he joined its consumer group as vice president and most recently served as president and COO. He stepped down from that position May 1, when a broad reorganization of the company took place (see story) -- a move that at least one analyst speculated at the time was due to internal disagreements at the company.

In an interview after his resignation from Microsoft was announced, Belluzzo said he wanted to be in a position to build a business and that the role of CEO best suited his goals (see story).

Richard Belluzzo, incoming CEO of Quantum Corp.
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Richard Belluzzo, incoming CEO of Quantum Corp.
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Credited as the force behind the growth of Microsoft's .Net, XBox and MSN efforts, Belluzzo joins Milpitas, Calif.-based Quantum as the company is seeing its revenue decline and losses climb. For its last fiscal year, the company reported a 22% drop in revenue year over year to $1.1 billion, and a 74% drop in net income to $42.5 million.

Its current financial health, as measured by its first-quarter report delivered a week ago, isn't much brighter. The company announced a net loss of $131 million on revenue of $211 million, below the $230 million to $245 million revenue forecast the company issued in late April. The lower-than-expected figures were preceded by a warning that the company would miss its target -- the second consecutive quarter it had been forced to issue such an announcement.

In addition to working at Microsoft, Belluzzo was chairman and CEO of Silicon Graphics and worked for 20 years at Hewlett-Packard Co., where he headed the company's computer products division.

Copyright © 2002 IDG Communications, Inc.

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