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Tech Industry

Maxtor loses its CFO--again

It's the second time this year the disk drive maker has seen its CFO resign.

Disk drive maker Maxtor on Thursday said its chief financial officer has resigned, the second time this year the company has seen its CFO depart. Maxtor said Michael Bless, who became CFO Aug. 23, quit "for personal reasons." In March, Robert Edwards left the same post to become chief financial officer of grocery chain Safeway. Edwards was named Maxtor CFO in July 2003. The company on Thursday named Maxtor Chief Executive Paul Tufano as acting CFO and said it has launched a search for a permanent replacement.

Disk drive companies have weathered tough times this year. Maxtor cut about 450 jobs, roughly 3 percent of its work force. It also posted a net loss of $26.1 million for the quarter ended June 26. On Oct. 20, the company plans to release financial results for the quarter ended Sept. 25.