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XIOtech Hot-Swaps CEO

XIOtech Corp. today announced it has hired Ken Hendrickson as chairman and acting CEO -- and with the departure of its previous president and CEO, Kathy Snouffer, XIOtech has cut one of its last remaining ties to former parent company Seagate Technology Inc. (NYSE: STX) (see XIOtech Hires Acting CEO).

Hendrickson was most recently CEO of Ancor Communications, the Fibre Channel switch vendor acquired by QLogic Corp. (Nasdaq: QLGC) in May 2000 (see QLogic to Buy Ancor for $1.7B).

XIOtech has also appointed Steve Snyder as CFO, the same position he previously held at Ancor. XIOtech, which is privately held, is currently conducting a search for a permanent CEO to take the helm.

Snouffer is heading out the door after about a year on the job. She joined the company in February 2002 after spending 13 years in a variety of management roles at Seagate. According to a spokeswoman, Snouffer will remain at XIOtech until March 25, after which she will rejoin Seagate. Snouffer could not be reached for comment (see XIOtech CEO Is in the Family).

With her replacement, the Eden Prairie, Minn., company is trying to further establish itself as an independent entity -- and hoping to get some distance from XIOtech's uneven legacy as a Seagate subsidiary.

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