Super Micro Clears Management, CFO Replaced Amid Stock Fluctuations
TL;DR Summary
Super Micro Computer's internal investigation, prompted by auditor Ernst & Young's concerns over governance and financial controls, found no evidence of fraud or misconduct among its management. Despite this, the company is replacing its CFO, David Weigand, and plans to hire a new chief compliance officer and general counsel to enhance financial operations. Following the announcement, Super Micro's stock price surged by 30%.
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- Super Micro Says Accounting Review Clears Management, Plans to Replace CFO The Wall Street Journal
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