Gregg Powers Board’s Director, Quantum …

Quantum Corp. will nominate Gregg Powers, chairman and CEO of Private Capital Management (PCM), for election to the company’s board of directors at its 2013 Annual Meeting of Stockholders.

PCM has been a long-term investor in Quantum and is one of the company’s largest shareholders, with beneficial ownership of approximately 8% of the outstanding shares of Quantum’s common stock.

"PCM has long been one of Quantum’s top shareholders, and Gregg brings a balanced perspective both as a professional value investor and technologist," said Jon Gacek, president and CEO of Quantum. "He also has vast experience with technology investing, a deep understanding of our business and a clear appreciation of the key value drivers in our industry from a product, customer and human capital perspective."

"Quantum has a broad portfolio of technologies and solutions that are well-suited to meeting customers’ data protection and big data management needs," said Powers. "I have long known the company and believe that the pieces are in place to substantially enhance shareholder value. I look forward to working with management and the rest of the board to help the company fully capitalize on its many market opportunities and create value for all of Quantum’s stakeholders."

 Powers joined PCM in 1988 and during the mid-1990s became co-portfolio manager, credited with the primary underwriting of the firm’s investments in technology, healthcare, and telecommunications. He was named president of PCM in 1999, CEO in 2008 and chairman in 2009. As portfolio manager, Powers oversees all aspects of the investment of client portfolios.

Prior to the 2013 annual meeting, Powers may observe Quantum board meetings.