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Wednesday May 9, 8:22 am Eastern Time
Press Release
SOURCE: Brocade Communications Systems, Inc.
Brocade Announces Promotion of Senior Executives to Capitalize on Its Leadership Position in Storage Area Networking Infrastructure
Greg L. Reyes Expands Role to Chairman and CEO; Michael J. Byrd Promoted To President and COO; Tony Canova Promoted to Vice President of Finance and CFO
SAN JOSE, Calif., May 9 /PRNewswire/ -- Brocade Communications Systems, Inc. (Brocade®) (Nasdaq: BRCD - news) announced today the promotion of three of the company's senior executives to support Brocade's continued growth in the storage area networking market. Greg L. Reyes, Brocade President and CEO since 1998, has expanded his role to Chairman and CEO. Michael J. Byrd, Brocade vice president of Finance and CFO since 1999, has been promoted to President and COO. In addition, Tony Canova, who joined Brocade last year as vice president of Finance, has been promoted to vice president of Finance and CFO. The executive positions are effective immediately.
The organization structure will enable Reyes, who has led the company since July of 1998, to expand his focus on further developing the market for storage area networking products and services, overseeing Brocade's strategic business and technology directions. Reyes succeeds Seth Neiman, Brocade co-founder, as Chairman of the Board of Directors; Neiman will retain a seat on the board. As President and COO, Byrd will report directly to Reyes, leveraging more than nineteen years of expertise in financial and operations to manage Brocade's day to day operations, including sales; marketing; support services; program management; operations; IT; and legal. In his new role as vice president of Finance and CFO, Canova will assume responsibility for all finance operations, including investor relations.
``I am pleased to pass the role of Chairman to Greg Reyes, one of the most accomplished and goal-driven technology executives in the world. Greg has led the company through a tremendous growth phase, demonstrating his leadership capability during the evolution of the company and the market,'' said Seth Neiman, Brocade co-founder and former Chairman of the Board.
Brocade provides the world's leading intelligent networking platform for storage area networks (SANs). Using Brocade SilkWorm® fabric switches, customers can connect servers with storage devices through a SAN, creating a highly reliable, manageable, scalable, and secure environment for storage applications. The company has approximately 90 percent market share of the Fibre Channel fabric switch market, and the majority of the market for SAN infrastructure.
``I am delighted to expand my role at Brocade to increase my focus on leading the company through its next phase of growth,'' added Reyes. ``With the support of our entire executive team and the expanded roles of Mike and Tony, Brocade is well-positioned for continued growth in providing the world's leading intelligent platform for networking storage.''
Reyes joined Brocade in 1998 as President and CEO. During his three years at Brocade, he has been responsible for establishing the company as the world's storage networking powerhouse, helping Brocade customers and partners drive the rapid evolution of the SAN market and enabling companies to significantly reduce the total cost of ownership for storage environments. Since the company's public offering in May, 1999, Reyes has been instrumental in building the company to its current market leadership position. Reyes' distinguished career in the technology industry spans executive, marketing, and sales management roles in data communications, networking, hardware, and software. Before joining Brocade, he was President and CEO of Wireless Access, Inc., a provider of wireless data messaging platforms and integrated circuits. Prior to Wireless Access, Reyes was a divisional vice president for Norand Data Systems, a developer of wireless data networks and handheld terminals. Previously, he was vice president of Sales and Support at Banyan Systems, a pioneer in networking and data communications software.
Byrd joined Brocade in 1999 as vice president of Finance and CFO. Playing a crucial role in the company's initial public offering in May of 1999, Byrd has led Brocade in achieving its world-class financial and operational performance. Prior to Brocade, from 1995 to 1999, Byrd was vice president of Finance and CFO of Maxim Integrated Products, Inc., a world leader in the integrated circuit industry. Before his role at Maxim, Byrd spent 12 years at Ernst & Young where he advanced to the position of partner and oversaw the corporate audits of high growth companies in the technology industry.
Before joining Brocade last year, Canova was executive vice president, CFO and secretary at Wireless, Inc., a fixed wireless broadband equipment company. Canova developed his extensive finance management background during his 16-year career at the leading international accounting and consulting firm KPMG LLP, where he was an audit partner for five years, and most recently responsible for the Silicon Valley audit practice. |
