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FalconStor Software CEO replaced after less than two months

FalconStor's new CEO, Todd Brooks on Aug. 18,

FalconStor's new CEO, Todd Brooks on Aug. 18, 2017. Credit: FalconStor

FalconStor Software Inc. Thursday announced that the company has appointed a new chief executive. The shake-up comes less than two months after a previous leadership change.

The Melville-based maker of data storage management software announced that Todd Brooks, an operating partner with Razorhorse Capital, an Atlanta investment firm, would replace Todd Oseth as chief executive.

Oseth, a former president and chief executive of Denver-based Intermap Technologies, became CEO July 1. He will “move into a strategic industry adviser role to support the company’s reorganization efforts,” the company said in a news release after Thursday’s stock market close.

The company also said chief financial officer Dan Murale had resigned “to pursue other opportunities.” He was replaced by Patrick McClain, former CFO of Aurea Software, based in Austin, Texas.

Brooks said in a statement that the company’s “commercial and operational fundamentals must be refocused.”

Shares of FalconStor fell 0.3 percent to 18 cents in after-hours trading Thursday. The stock has tumbled about 83 percent in the last 12 months.

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