Newsletters
Technology, Discovery & Innovation NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Click for more information, or
Home Computing Digital Life Discovery Space More Topics...
Data Storage
Average Rating:
Rate this article:  
Brocade Names Lloyd Carney as CEO
Brocade Names Lloyd Carney as CEO

By Jennifer LeClaire
January 21, 2013 11:37AM

Bookmark and Share
"I believe Brocade is poised to leverage its heritage of strong innovation and significantly disrupt the status quo in the data-networking industry," said Brocade's new CEO, Lloyd Carney. "There are profound changes happening across high tech today and Brocade has a great opportunity to lead that transformation through differentiated products and customer focus."
 




San Jose, Calif-based Brocade Communications Systems has a new man in the top spot. Tech industry veteran Lloyd Carney has taken the CEO reins and also joined the data and storage networking company's board of directors. He succeeds Michael Klayko, who has served as CEO since 2005.

Industry watchers say part of Carney's challenge as CEO will be helping Brocade pursue a more software oriented strategy, competing with Cisco, HP and other leaders that are moving toward software-defined networking, after decades of focus on the hardware.

Brocade's extensive line of networking equipment includes enterprise Ethernet switches, WAN routers, SAN switches, application delivery controllers, network security appliances, Ethernet/storage network adapters and PHY transceivers.

While some industry reports have speculated about Brocade being positioned for sale, this week's announcements seem to indicate otherwise.

David House, chairman of Brocade's board of directors, said, "The board believes that Mr. Carney is the ideal leader to take Brocade to the next level," acknowledging his extensive experience and his "relentless passion for driving innovation and operational excellence."

Micromuse, Juniper, Nortel, Bay Networks

Carney, 50, has nearly 30 years' experience in the high-tech industry. His career includes a number of senior leadership positions at networking and semiconductor companies. Most recently, Carney was CEO and board member of Xsigo Systems, a privately held company specializing in data center virtualization. There he positioned the company to leverage emerging technology opportunities including cloud computing and software-defined networking.

Before his tenure at Xsigo Systems, Carney served as CEO of Micromuse, which specialized in network management software and later became an integral part of the IBM Tivoli framework. Carney has also held key senior leadership positions at major networking companies including a stint as COO at Juniper Networks and president of Nortel Networks' multibillion-dollar Core IP, Wireless Internet and Enterprise divisions. Carney also served at Bay Networks as the executive vice president and general manager of the Enterprise Business Group, the company's largest business unit.

"I believe Brocade is poised to leverage its heritage of strong innovation and significantly disrupt the status quo in the data-networking industry," Carney said. "There are profound changes happening across high tech today and Brocade has a great opportunity to lead that transformation through differentiated products and customer focus. Success here will accelerate profitable growth for our company and drive further value for our shareholders."

Financial Moves

Speaking of value, Brocade also announced it is buying back debt and refinancing it at a lower interest rate. The company said it is pricing its $300 million in 4.625 percent senior notes to mature in 2023 at an issue price of 100 percent of the principal. Brocade will offer the notes in a private placement to "qualified institutional buyers" in the U.S. as required by the Securities and Exchange Commission. Sale of the notes is expected to close Tuesday.

Brocade intends to use the net proceeds of the offering, together with cash on hand, to redeem all of Brocade's outstanding 6.625 percent senior secured notes due 2018, including the payment of accrued and unpaid interest on the 2018 notes to but excluding the date of redemption and the applicable premium and expenses associated with the redemption.
 

Tell Us What You Think
Comment:

Name:





 Data Storage
1.   Cloud Firms Offer Azure Starter Kit
2.   Amazon Intros Zocalo Storage Service
3.   EMC Moves Toward Hybrid Cloud
4.   Oracle Boosts ZS3 Storage Server Line
5.   Fusion-IO Deal Speeds SanDisk Shift


advertisement
Amazon Intros Zocalo Storage Service
Online storage and sharing for business.
Average Rating:
EMC Moves Toward Hybrid Cloud
Buys TwinStrata; debuts VMAX3 storage.
Average Rating:
Cloud Firms Offer Azure Starter Kit
Carpathia, Equinix partner on launch.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Researchers Working To Fix Tor Security Exploit
Developers for the Tor privacy browser are scrambling to fix a bug revealed Monday that researchers say could allow hackers, or government surveillance agencies, to track users online.
 
Wall Street Journal Hacked Again
Hacked again. That’s the story at the Wall Street Journal this week as the newspaper reports that the computer systems housing some of its news graphics were breached. Customers not affected -- yet.
 
Dropbox for Business Beefs Up Security
Dropbox is upping its game for business users. The cloud-based storage and sharing company has rolled out new security, search and other features to boost its appeal for businesses.
 

Enterprise Hardware Spotlight
Watson Gets His First Customer Service Gig
Since appearing on Jeopardy, IBM's Watson supercomputer has been making a living using his super-intelligent knowledge base for business verticals. Now, Watson's been hired for his first customer service job.
 
Tablet Giants Apple and Samsung Feel the Heat
When a company saturates its home market with a once-hot product, expect it to pump up efforts elsewhere. Apple, for its part, is now pushing iPads to big corporations and the enterprise market.
 
Microsoft Makes Design Central to Its Future
Over the last four years, Microsoft has doubled the number of designers it employs, putting a priority on fashioning devices that work around people's lives -- and that are attractive and cool.
 

Mobile Technology Spotlight
Tablet Giants Apple and Samsung Feel the Heat
When a company saturates its home market with a once-hot product, expect it to pump up efforts elsewhere. Apple, for its part, is now pushing iPads to big corporations and the enterprise market.
 
Is the Amazon Fire Phone a Winner?
A late entry into a packed category of smartphones, Amazon's Fire phone offers a variety of unique features. Now, the reviewers are assessing if they're enough to make the phone stand out.
 
Review: Amazon Fire Offers New Ways To Use Phones
The Fire phone uses Android, but Amazon has modified it to the point that it's barely recognizable. That means the phone offers new ways to navigate, discover and, of course, shop.
 

Navigation
Sci-Tech Today
Home/Top News | Computing | Digital Life | Discovery | Space | Innovation | Health | Science News
Environment
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.