Ixia's CEO Quits

CALABASAS, Calif. -- Ixia (XXIA) today announced that Vic Alston has resigned as its President and CEO and as a member of its board of directors following a determination by the Ixia audit committee that although he had attended Stanford University, he had misstated his academic credentials, incorrectly claiming to have received a B.S. and a M.S. in Computer Science, and had misstated his age and early employment history.

The board has appointed Errol Ginsberg, Ixia’s chairman of the board, founder and former CEO as acting CEO (in addition to his current role as chief innovation officer), and Alex Pepe, senior vice president, strategy, as chief operating officer.

Ixia also reaffirmed its revenue guidance for the third quarter ended September 30, 2013 and expects revenue to be above the midpoint of its previously stated guidance range of $112 million to $117 million. The company will issue financial results for its third quarter ended September 30, 2013 after the U.S. markets close on Tuesday, October 29, 2013, followed by a conference call at 2:00 p.m. Pacific time (5:00 p.m. Eastern time).

Ixia (Nasdaq: XXIA)