LSI Logic Corp. (NYSE: LSI) has announced a reorganization that changes the charter of storage equipment subsidiary Engenio Information Technologies Inc. and booted out its CEO.
Engenio will continue to produce everything it does today, but LSI's RAID Storage Adapter (RSA) group, including its MegaRAID series of cards for storage OEMs, is being added to the mix. "Now we have Engenio doing more than just systems, also RAID storage and software," says LSI Logic spokesman Kevin Brett.
In another change, Engenio's Tom Georgens has lost his job as CEO, and Phil Bullinger, 41, formerly the head of RSA, has taken the helm, albeit with the title of general manager. "Tom is still with the company, still part of the team, but there is no announcement on his position," Brett said.
Engenio will now share a sales force with LSI Logic.
"The combination of RSA and Engenio will more efficiently deliver a broad and common portfolio of software, storage products and platforms to meet OEM customer needs and to deliver greater shareholder value," said Abhi Talwalkar, LSI Logic CEO, in a prepared statement. Talkwalkar's closed the door for now on Engenio IPO talk. "Market conditions at this time do not support a favorable IPO for our Engenio subsidiary," he said.
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