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Violin Memory Fires CEO Basile as Post-IPO Stock Plunges

Violin Memory Inc. fired Chief Executive Officer Don Basile after the maker of flash storage lost 70 percent of its value following its initial public offering in September.

Howard A. Bain III, the chairman of Violin’s board, was appointed interim CEO, the Santa Clara, California-based company said in a statement today. The board has hired an executive search firm to find a permanent replacement.