Quantum Corporation (Nasdaq: QMCO) (Quantum or the Company) announced today that Mr. Christopher D. Neumeyer has joined its Board of Directors. Mr. Neumeyer joins Quantum’s Board as the Company increases its focus on executing strategic initiatives designed to accelerate EBITDA growth. His addition to the Board underscores Quantum’s commitment to delivering improved financial performance and shareholder value. Mr. Neumeyer has served as a non-voting Board observer since 2016.
“We’re very pleased to officially integrate Chris’s experience into our Board,” said Jamie Lerner, Chairman, and CEO of Quantum. “We have already benefitted from Chris’s insights and feedback for the last several years in his role as an observer. We believe he will continue to bring valuable shareholder perspectives to our Board oversight and decision-making processes, and improve our efforts to integrate shareholder voices into our business.”
“I am excited to join Quantum’s Board. I look forward to working closely with the other directors and the Quantum leadership team to unlock the value that I don’t believe the current stock price reflects,” commented Mr. Neumeyer.
Mr. Neumeyer is an Executive Vice President and Portfolio Manager at Pacific Investment Management Company LLC (PIMCO). Funds managed by PIMCO are currently some of Quantum’s largest investors, beneficially owning, in the aggregate, 16,773,611 shares, and warrants, or 15.4% of the Company’s issued and outstanding common stock (assuming the exercise of the warrants held by such funds) as of August 1, 2022. Since joining PIMCO in 2010, Mr. Neumeyer has held multiple roles and is currently responsible for identifying, originating, and structuring corporate investments across the capital structure in a variety of industries for various PIMCO-managed investment funds.
Prior to his tenure at PIMCO, Mr. Neumeyer held various positions at The Blackstone Group and worked in the investment banking division of Credit Suisse First Boston.