Super Micro Computer's stock rose 13% in pre-market trading and increased nearly 16% in early trading before narrowing its gains. The company announced it will replace Chief Financial Officer David Weigand.<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/93ba4090-1d9e-4105-9200-5757b9bd716e.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/93ba4090-1d9e-4105-9200-5757b9bd716e.png"/>On December 2nd, Monday Eastern Time, Super Micro Computer stated in a statement that it is seeking a new Chief Financial Officer, Chief Compliance Officer (CCO), and General Counsel. Meanwhile, Kenneth Cheung, who previously served as Vice President of Finance, will become the company's new Chief Accounting Officer.At the same time, after an external review by the company's board of directors' special committee and external lawyers, no misconduct was found. Specifically, the independent special committee's investigation revealed that the resignation of Ernst &amp; Young and the conclusions mentioned in its resignation letter were not supported by review evidence.Previously, on November 5th, the company announced that the preliminary findings of the special committee's investigation indicated that the audit committee acted independently, with no evidence of fraud or misconduct by management or the board. The final investigation results of the special committee support these preliminary findings, and the company is now disclosing the details of the review and the measures recommended by the special committee.The external review was conducted by the board's special committee in collaboration with over 50 lawyers from the law firm Cooley LLP and a team from the accounting firm Secretariat Advisors. The board fully adopted the recommendations of the special committee, and the company will not reissue statements regarding previously published financial forecasts.This year has been tumultuous for Super Micro Computer. The company failed to submit its annual financial report before August, and its auditor, Ernst &amp; Young, resigned in October due to concerns about the company's governance and transparency. Super Micro Computer is also facing an investigation by the U.S. Department of Justice and had previously been targeted by short-selling firm Hindenburg Research, which released a short report

SMCI

Super Micro Computer pre-market rose 13% on the US stock market, with an early morning increase of nearly 16%. The company announced it will replace Chief Financial Officer David Weigand and is seeking a new Chief Compliance Officer and General Counsel. An external review found no misconduct by the company

- Advanced Micro Devices (AMD) shares rose 13% pre-market and nearly 16% in early trading after announcing the replacement of CFO David Weigand.  
- The company is seeking new executives, including a CFO and Chief Compliance Officer, while Kenneth Cheung will become the new Chief Accounting Officer.  
- An external review found no misconduct, supporting earlier findings that the audit committee acted independently, despite concerns raised by the resignation of Ernst & Young.

Super Micro Computer's review found no misconduct, decided to replace the Chief Financial Officer