November 8, 2011
Colorado Springs-based computer storage manufacturer XIO named a veteran technology executive who is a partner from a venture capital fund that owns a majority of the company as president and CEO and made its former CEO a non-executive chairman Tuesday.
John Beletic had spent nearly 10 years as venture partner and serving as a board member for many firms while at Oak Investment Partners, a Connecticut-based venture fund that owns a majority stake in XIO. He replaces Alan Atkinson, who was named as chairman of XIO and will focus on strategic business development and international growth. The company also promoted two executives as vice presidents of sales for the eastern and western U.S., replacing another sales executive who has left the company.
“This is not a turnaround situation, it is a pure growth opportunity,” said Beletic, who owns homes in both Telluride and Dallas and plans to spend at least half his time at XIO’s headquarters. “Everything I see here says this company has the potential for hyper-growth. I believe the company is on the verge of fulfilling the promise it has had for a long time. I am very impressed with the talent we have here and my focus will be on building a great company. We are at a break-even level, and any profits we do make, I want to reinvest in expanding the sales force.”
Beletic’s arrival comes a few months after XIO changed its name from Xiotech and less than a year after it moved its corporate headquarters to the Springs from the Minneapolis area to space it shares with a research operation that developed what is now the company’s primary product. XIO makes high-capacity data storage devices that are used mostly in corporate data centers. XIO acquired the research operation in 2007 from Seagate Technology LLC, which still owns a minority stake in the company.
Beletic also serves as chairman of California-based iPass, which makes software to connect mobile devices to corporate networks, and as lead director of Maryland-based Tessco Technologies, which makes equipment for wireless Internet service; he also has served on the boards of Scale Eight and Data Return. He previously spent nearly 25 years in senior executive roles, mostly as president and CEO, at technology and communications companies that include Tigon, PageMart and Weblink Wireless.
Dave Ornstein and Shawn Kinnear were named vice presidents of sales for the eastern and western U.S., respectively, replacing the company’s former vice president of worldwide sales, Mark Glasgow. Ornstein joined XIO in 2008 after spending 15 years in sales and management positions at Compaq and HP as well as consulting positions in the information technology industry. Kinnear joined the company in 2006 after spending 20 years in sales and management positions at Cotelligent, Quest Software and Computer Associates.
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