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JNI Names Waddington President, CEO

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, whose stock has

lost more than 50% of its value since Nov. 10, named Neal M. Waddington president and chief executive.

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Waddington, 53 years old, fills the posts being vacated by Terry M. Flanagan, who has announced his decision to retire.

Prior to joining storage-networking company JNI, Waddington held a variety of senior executive positions at several high-technology companies. Most recently, Waddington served as chief operating officer of

ATL Products


Shares of JNI were recently trading at $47.88 after hours, down $6.81, or 12.3% on the day. The 52-week high is $126.