Brocade names Lloyd Carney as CEO

Brocade announced that its board of directors unanimously appointed networking industry veteran Lloyd Carney to the position of CEO effective immediately. In addition to his role as CEO, Carney will join Brocade's board of directors. Carney succeeds Michael Klayko, who has served as CEO since 2005.

"After a thorough and robust search process, the Board believes that Carney is the ideal leader to take Brocade to the next level," said David House, chairman, Brocade Board of Directors. "Carney has a relentless passion for driving innovation and operational excellence. These characteristics, combined with his track record of execution including delivering growth and increasing shareholder value, make him an outstanding choice to lead Brocade into its next phase," he added.

Carney, 50, has built a distinguished career during his nearly 30 years in the high-tech industry including a number of senior leadership positions at various networking and semiconductor companies. Most recently, Carney was CEO and member of the board of directors at Xsigo Systems, a privately held company specializing in data center virtualization, where he positioned the company to take advantage of emerging technology opportunities including cloud computing and software-defined networking.

"I believe Brocade is poised to leverage its heritage of strong innovation and significantly disrupt the status quo in the data-networking industry. 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. I am very excited and honored to lead Brocade at this time," said Carney.