Super micro computer Inch. said an external review of the business by a special committee of its board and outside counsel found no evidence of wrongdoing and that the company would appoint new top financial leadership.
The company is seeking a new chief financial officer, chief compliance officer and general counsel, it said in a statement Monday. Kenneth Cheung, former vice president of finance, will be the company’s new chief accounting officer.
It’s been a tumultuous year for Super Micro. The maker of powerful servers missed an August deadline to file its annual financial report, and its auditor, Ernst & Young LLP, resigned in October, citing concerns about the company’s governance and transparency. Super Micro is too coping investigation by the US Department of Justice after a adverse report from short seller Hindenburg Research.
The review was completed by a special committee of the board of directors along with more than 50 lawyers from law firm Cooley LLP and a team from forensic accounting firm Secretariat Advisors, Super Micro said in a statement.
