Newsletters
The Enterprise Security Supersite NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
Home Network Security Viruses & Malware Cybercrime Security Solutions More Topics...
Neustar, Inc.
Protect your website & network
using real-time information & analysis

www.neustar.biz
Data Storage Issues
Tame your scariest paperwork. Find Out How
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:



Neustar, Inc. (NYSE: NSR) is a trusted, neutral provider of real-time information and analysis to the Internet, telecommunications, information services, financial services, retail, media and advertising sectors. Neustar applies its advanced, secure technologies in location, identification, and evaluation to help its customers promote and protect their businesses. More information is available at www.neustar.biz.


 Data Storage Issues
1.   Dropbox for Business Boosts Security
2.   Seagate Unveils Networked Drives
3.   Microsoft Buys InMage Recovery Tech
4.   IBM Earmarks $3B for Next-Gen Chips
5.   Outlook, OneDrive Crypto Upgraded


advertisement
Dropbox for Business Boosts Security
Adds new search, features to woo firms.
Average Rating:
Seagate Unveils Networked Drives
Geared toward small businesses.
Average Rating:
Microsoft Buys InMage Recovery Tech
Will be integrated with Azure cloud.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
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.
 
34 European Banks Hit by Android-Skirting Malware
Criminals have been finding gaping holes in Android-based two-factor authentication systems that banks around the world are using. The result: 34 banks in four European countries have been hit.
 

Enterprise Hardware Spotlight
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.
 
Contrary to Report, Lenovo's Staying in Small Windows Tablets
Device maker Lenovo has clarified a report that indicated it is getting out of the small Windows tablet business -- as in the ThinkPad 8 and the 8-inch Miix 2. But the firm said it is not exiting that market.
 
Seagate Unveils Networked Drives for Small Businesses
Seagate is out with five new networked attached storage products aimed at small businesses. The drives are for companies with up to 50 workers, and range in capacity from two to 20 terabytes.
 

Navigation
Enterprise Security Today
Home/Top News | Network Security | Viruses & Malware | Cybercrime | Security Solutions | Mobile Security | Disaster Recovery | Windows Security
Data Security | EST Press Releases
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.