Cereva Networks Inc. has confirmed that Chief Executive Officer and President Alan Lutz has resigned. The decision was made by Lutz for personal reasons, a company spokesperson said.
Lutz is credited with attracting Cereva's management team as well as raising millions in investment capital for the Marlborough, Mass-based storage startup.
Cereva has appointed a member of its board of directors, Mahesh N. Ganmukhi, as the company's new CEO. Ganmukhi most recently served as a vice president and general manager for Lucent Technologies Inc.
According to Bruce MacDonald, director of corporate communications for Cereva, Ganmukhi was appointed to the position on May 18, the same day as Lutz' departure.
Ganmukhi is Lutz' permanent replacement.
Founded in 1998 by Raju Bopardikar, the company's chief technology officer, Cereva developed an Internet Storage system aimed at accelerating content delivery for service providers.
Cereva claims its Internet Storage systems combine massive parallel processing with high-speed networking and specialized storage systems that eliminate system bottlenecks and boast more than one petabyte of capacity.
Cereva has received about $110 million in financing from investors including Matrix Partners, North Bridge Venture Partners, Oak Investment Partners, Goldman Sachs, Intel Corp., Global Crossing Ventures Inc., Worldview Technology Partners, Comdisco Ventures, and Sumitomo Corp.Let us know what you think about the story, e-mail Kevin Komiega, assistant news editor
For more information:Cereva Networks profile The Petabyte Is Coming Storage sells Cereva Networks Inc. Cereva Networks' white paper: Internet Storage and the Internet data center ? addressing service providers' needs