A falsified resume has led to the resignation of Vic Alston as chief executive of computer network equipment manufacturer Ixia.
The board of directors of the Calabasas company has appointed founder and former Chief Executive Errol Ginsberg as acting CEO to replace Alston, who left Oct. 24.
Alston was found to have misstated his academic credentials, age and early employment history, according to an investigation by the board’s audit committee. Alston claimed to have received a bachelors and master’s degree in computer science from Stanford University, claims the investigation found were false.
Alston joined Ixia in 2004 and was named chief executive in May 2012.
In a prepared statement, Ginsberg, who also serves as chief innovation officer at Ixia, said he was saddened by the circumstances of Alston’s departure.
In addition to Ginsberg being named the acting manager of the company, the board also promoted Alex Pepe to chief operating officer from senior vice president of strategy.
“Alex’s broad experience and leadership skills will be of great value in helping Ixia through this transitional period,” Ginsberg said in a prepared statement.
Alston could not immediately be reached for comment.
Shares of Ixia fell 43 cents, or nearly 3 percent, to close at $14.51 on the Nasdaq.