Management shakeup at Adept Technology
Rob Cain replaces John Dulchinos as CEO of Adept Technology. Cain has worked with Adept for the past few months as an advisor and representative of Hale Capital Partners and crafted a restructuring plan approved by the company and it’s financial partners.
Adept reported poor sales and lower than expected gross margins for the first two quarters of fiscal 2013. This after suffering a net loss and reduced margins for FY 2012.
Adept’s stock took a hit last November when it became known that the company would initiate a restructuring plan and a second recent hit upon notice of the change in leadership.