Ixia CEO Quits; Misstated Academic Credentials, Age, Early Employment History

(RTTNews) - Ixia (XXIA) announced that Vic Alston has resigned as its President and CEO and as a member of its board following a determination by the company's audit committee that although he had attended Stanford University, he had misstated his academic credentials, incorrectly claiming to have received a B.S. and a M.S. in Computer Science, and had misstated his age and early employment history.

The company said it has appointed Errol Ginsberg, Ixia's chairman of the board, founder and former CEO as acting CEO, in addition to his current role as chief innovation officer, and Alex Pepe, senior vice president, strategy, as chief operating officer.

Ixia also reaffirmed its third quarter revenue guidance and expects revenue to be above the midpoint of its previously stated guidance range of $112 million to $117 million.

The company plans to commence a search to identify a permanent CEO.