Brocade has named former Xsigo Systems CEO Lloyd Carney as its new top executive effective immediately.
Carney replaces Mike Klayko, who last year announced plans to retire from the $2.2 billion networking company. Klayko had been Brocade’s CEO since 2005.
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Carney will also join Brocade’s board of directors.
Carney, 50, is a 30-year veteran of the high-tech industry. Most recently, he was CEO and member of the board of directors at Xsigo, a privately held company specializing in data center virtualization that was acquired by Oracle.
Previously, Carney was CEO of Micromuse, a developer of network management software that was acquired by IBM. Carney was also COO at Juniper Networks, and president of Nortel Networks’ multi-billion dollar Core IP, Wireless Internet and the Enterprise divisions.
Carney also served as executive vice president and general manager of Bay Networks’ Enterprise Business Group prior to Nortel acquiring Bay in 1998.
Brocade, which has been rumored to be for sale but unable to find a buyer, has boosted its financial showing of late. The company reported record revenue for Q4 and fiscal year 2012, and earnings ($311 million) rose 26% over those of 2011.