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Last $2.98 USD
Change Today +0.08 / 2.76%
Volume 154.7K
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

imation corp (IMN) Snapshot

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52 Week High
05/21/15 - $4.75
52 Week Low
09/18/14 - $2.69
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Current Stock Chart for IMATION CORP (IMN)

imation corp (IMN) Related Businessweek News

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imation corp (IMN) Details

Imation Corp., together with its subsidiaries, operates as a data storage and data security company worldwide. The company operates in two segments, Tiered Storage and Security Solutions (TSS), and Consumer Storage and Accessories (CSA). The TSS segment offers storage and security solutions, such as NST, a hybrid storage line product; Nexsan E-Series disk arrays; and Assureon line, which delivers secure archive systems for data offload, compliance, and secure cloud deployment. It also provides magnetic tape media products used for business and operational continuity planning, disaster recovery, data backup, near-line data storage, and retrieval, as well as mass and archival storage. This segment offers its products under the IronKey brand name. The CSA segment provides consumer storage media products primarily include optical products comprising DVDs, CDs, and Blu-ray recordable media, as well as USB flash drives, flash cards, and external hard disks drives; and audio and accessories, such as speakers, headphones, and accessories. This segment offers its products under the Imation, Memorex, TDK Life on Record, and TREK brand names. The company serves businesses and individual consumers through distributors, wholesalers, value-added resellers, original equipment manufacturers, and retail outlets. The company is headquartered in Oakdale, Minnesota.

910 Employees
Last Reported Date: 03/16/15

imation corp (IMN) Top Compensated Officers

Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $264.9K
Senior Vice President and Group President of ...
Total Annual Compensation: $387.1K
Vice President and Group President of Tiered ...
Total Annual Compensation: $306.5K
Vice President, General Counsel and Corporate...
Total Annual Compensation: $325.5K
Total Annual Compensation: $754.9K
Compensation as of Fiscal Year 2014.

imation corp (IMN) Key Developments

Imation Enters into an Agreement with Arrow Electronics for Distribution of Nexsan Products in U.S. and Canada

Imation announced that it has entered into an agreement with Arrow Electronics for the distribution of Imation's Nexsan product portfolio throughout the United States and Canada.

Imation Receives Non-Compliance Notice From NYSE

On August 18, 2015, Imation Corp. notified the New York Stock Exchange (NYSE) that the Company no longer had a majority of independent directors as required by Section 303A.01 of the NYSE Listed Company Manual and that the Company no longer had three directors on its Audit Committee as required by Section 303A.07(a) of the NYSE Listed Company Manual. The Company was not in compliance as the result of the resignations of William G. LaPerch and Anthony T. Brausen from the Company’s Board of Directors, the appointment of Board member Barry L. Kasoff as Interim President and a Consulting Agreement dated August 17, 2015 between the Company and Mr. Robert B. Fernander. On August 19, 2015, the Company received written notice from the NYSE that the Company is deficient in meeting the requirements of Section 303A.01 of the NYSE Listed Company Manual because the Company does not have a majority of independent directors on its Board and Section 303A.07(a) of the NYSE Listed Company Manual because the Company does not have three members on its Audit Committee. The NYSE notice advised that the Company has until August 26, 2015 to cure these deficiencies before being deemed noncompliant. The NYSE’s notice has no immediate effect on the listing of the Company’s common stock on the NYSE. The Company’s Board of Directors is currently conducting a search for at least two new independent directors. Upon the appointment of two new independent directors to the Board and one new member to the Audit Committee, the Company will again be in compliance with the requirements of Sections 303A.01 and 303A.07 of the NYSE Listed Company Manual. At this time, the Company expects to cure the deficiencies by August 26, 2015, but in no event later than 30 days from the date of this filing.

Imation Corp Announces Board Appointments

Imation Corp. announced that Independent director Barry L. Kasoff has been appointed as interim president, while independent director Joseph A. De Perio has been elected non-executive chairman of the board, effective immediately. Currently, Kasoff serves as the president of Realization Services Inc.


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Price/Book 0.6x
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