On December 2, 2024, Supermicro announced the completion of a review by its independent Special Committee, which found no evidence of misconduct by management or the Board. The Board adopted all recommendations, including appointing Kenneth Cheung as Chief Accounting Officer and initiating a search for a new CFO.The Special Committee, supported by Cooley LLP and Secretariat Advisors, LLC, confirmed the integrity of the company's financial reporting and the independence of the Audit Committee. The investigation addressed concerns raised by former auditors Ernst & Young, concluding that their resignation was not supported by the facts.Supermicro plans to enhance governance by hiring a new CFO, Chief Compliance Officer, and General Counsel, and expanding its legal department to support future growth.

On December 2, 2024, Supermicro announced the completion of a review by its independent Special Committee, which found no evidence of misconduct by management or the Board. The Board adopted all recommendations, including appointing Kenneth Cheung as Chief Accounting Officer and initiating a search for a new CFO.The Special Committee, supported by Cooley LLP and Secretariat Advisors, LLC, confirmed the integrity of the company's financial reporting and the independence of the Audit Committee. The investigation addressed concerns raised by former auditors Ernst & Young, concluding that their resignation was not supported by the facts.Supermicro plans to enhance governance by hiring a new CFO, Chief Compliance Officer, and General Counsel, and expanding its legal department to support future growth.