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More turnover at FalconStor as Bernard J. Wu resigns
The door to the executive suite is revolving again at FalconStor Software.
Executive vice president Bernard J. Wu has resigned from the struggling Melville data-storage company effective Friday, according to a regulatory filing. He has worked at FalconStor since 2000.
Wu’s exit comes two months after the resignation of former FalconStor chief executive Jim McNiel, who had run the company since 2011. FalconStor named Gary Quinn as McNiel’s replacement.
A company spokesman did not immediately respond to inquiry to discuss Wu’s resignation.
Last month, FalconStor said its second-quarter revenue had decreased to $14 million during the three months that ended in June, down 15 percent from the same period last year.
The company has reported falling sales for five consecutive quarters. It has not turned an annual profit since 2008.