Imation Corp. announced that Bob Fernander, an existing member of the company's Board of Directors, has been appointed as Interim CEO, effective immediately. Additionally, the Company announced it has acquired substantially all of the equity of Connected Data Inc., in a transaction valued at approximately $7.5 million at closing.

Connected Data's founder, CEO and current member of Imation's Board, Geoff Barrall, will join the company's executive leadership team as Chief Technology Officer. Separately, Interim President Barry Kasoff has assumed the role of Chief Restructuring Officer and will continue to work with Mr. Fernander to execute Imation's restructuring plan.