Super Micro Clears Management, CFO Replaced Amid Stock Fluctuations
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%.