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.

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.