Brace of C-level execs flies Copan coop
Updated. Copan: separate and unrelated events
Copan Systems, which sells the greenest disk arrays of all, has lost both its chief financial officer (CFO) and its VP for North Europe.
Copan's Revolution drive arrays use MAID (Massive Array of Idle Drives) technology in which up to 75 per cent of the densely packed drives are not spinning and so saving power. The company, led by CEO Mark Ward, is privately owned by venture capitalists and completed a $32.4m series-D funding round in September, 2007, raising total funding to $88.4m. Fourth-round funding is generally followed by an IPO. It has recently embarked on an infrastructure and sales channel expansion strategy.
CFO Mark Pougnet has left to become the CFO of Tendril Inc., a residential energy management systems company. He joined Copan in September 2006. A Copan spokesperson said: "Mark Pougnet’s departure was completely amicable, so much so that he is still doing part time work with the company today... His decision to leave fulltime was a personal one, yet he remains a firm believer in Copan Systems’ future." No replacement has been announced.
Copan has also lost Tim Pitcher, its VP for North Europe, who is joining utility storage vendor 3PAR as VP for EMEA. He joined Copan in September last year after a stint at Acopia. No replacement has been announced for him either. The Copan spokesperson said: "Tim Pitcher and Copan mutually parted ways back in June, some three months ago."
Commenting on both departures he said: "These two changes are in no way related and have independent reasons behind them." ®