Brocade CEO to resign

After over seven years with Brocade, CEO Michael Klayko will resign his role.

Brocade has announced that its CEO Michael Klayko intends to step down from his role, following a strong third quarter from the company.

The search for his replacement has already begun, with the board forming a search committee and deciding to hire an executive recruitment firm. Klayko will keep his role until a replacement is found.

Klayko said that he thought it was the right time to leave the company, which has just reported strong third-quarter results. It achieved revenues of US$555.3 million, an increase of 10 per cent year on year, despite an environment that has been challenging many vendors.

The growth was driven by the storage and Ethernet businesses, Brocade said, with storage revenue up 17 per cent year on year.

Brocade's chairman Dave House said he is grateful for Klayko's work.

"We want to thank Mike for his more than seven years of service as CEO. He has led us through two major acquisitions, and has positioned us as a technology leader and world-class provider of networking solutions. We wish him the best and appreciate his continued service to Brocade as the company works to identify the right leader to assume his role," he said in a statement.

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