Good morning. Super Micro Computer, which makes high-powered AI servers, wants to turn the page on a recent controversy related to its financial practices. The scandal will result in the company parting ways with its current CFO, David Weigand, as part of its “ambition for future growth.”
The Fortune 500 company announced on Monday that an independent special committee formed by Super Micro’s board of directors has completed its review of financial practices. There was “no evidence of fraud or misconduct on the part of management or the board of directors,” according to the company. The evidence did not raise any “substantial concerns” about the integrity of the company’s senior management or audit committee or “their commitment to ensuring that the company’s financial statements are materially accurate.” And a restatement of reported financials is not expected.
