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is difficult to take the pulse of what's going on OCZ Technology, but that is still at least somewhat encouraging. That investors did not find encouraging is that his warning OCZ incentive program customers will result in a "significant" quarterly loss and "significantly lower" than previously anticipated income. On the positive side, there is a new boss in town, and it seems sugar coating the situation.

OCZ named Ralph Schmitt as its new president and CEO, with immediate effect. Before accepting his new role at OCZ, Schmitt served in the same capacity at PLX Technology, a provider of semiconductor-based connectivity to markets primarily businesses and consumers.

The press release announcing his hiring is filled with the usual optimism that accompanies such things, but Schmitt is quoted as saying that there are "short-term" tactical challenges faced by OCZ. It was even more candid during a conference call with investors.

"We are here to create value for shareholders, and we failed in this mission," said Schmitt, according

Mercury News

. "We have lost credibility, but we will win again with consistent execution that will achieve effective results."

honest assessment, however, investors reacted positively to that new, immediate shipping OCZ from 40 per cent to U.S. $ 1.88. According

Bloomberg

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