Brocade (Nasdaq: BRCD) on Monday named networking and telecom industry veteran Lloyd Carney as its new CEO.
Carney (Image source: Brocade)
Carney, who will also take a seat on Brocade's board of directors, replacing Michael Klayko, who served as Brocade's CEO since 2005.
In August, Klayko announced he would step down as CEO, and stayed with the company as they searched for a new CEO. He did not cite a reason why he was leaving the company.
Over the course of his almost 30 years in the IT industry, Carney has served in various high level executive positions at a number of networking and semiconductor vendors. He has a long track record of leading startups whose technology and products attracted larger players.
Prior to coming to Brocade, Carney was the CEO of Xsigo Systems, a private company that built data center virtualization solutions with a particular focus on Software Defined Networking (SDN) for cloud computing environments. Xsigo was acquired by Oracle in July.
Carney also served as the CEO of management software vendor Micromuse, which was purchased by IBM in 2005 and became a major piece of IBM's Tivoli framework. In addition, he served as COO at Juniper (NYSE: JNPR) and as president of Nortel's Core IP, Wireless Internet and the Enterprise divisions after it acquired Bay Networks in 1998.
He comes to a company that is a dominant player in the SAN (storage area network) equipment and Ethernet switching market segments.
Infonetics said that the SAN equipment market rose 15 percent between Q1 and Q2 2012 as shipments of Fibre Channel over Ethernet (FCoE) products increased. Trailing only Cisco (Nasdaq: CSCO), Brocade commands a 99 percent market share in the FCoE market segment.
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