Beleaguered Adaptec has cancelled its November 10 annual general meeting and legacy board chairman Joe Kennedy has apparently resigned. It appears Steel Partners has won the proxy war and has sufficient shareholder consents to carry out its plans of removing Adaptec CEO Sundi Sundaresh and Robert Loarie from the board, reducing …
It's the end.
It will just be faster now.
last one out turn off the lights.
It's a commodity market out there now with big multi-product companies. Likely no future for Niche companies like Adaptec any more.
If Logitech had stuck to selling Modula-2 and Mouses and Creative to Sound cards, they would be gone already. As it is the future is gloomy for them. Is Genius a brand owned by someone bigger now?
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