With Extreme Networks Inc. (Nasdaq: EXTR) going through a difficult period, maybe it's appropriate that the company picked a CEO accustomed to adversity.
Mark Canepa, formerly the VP in charge of the troubled networked storage division at Sun Microsystems Inc. (Nasdaq: SUNW), was named Extreme's CEO today. He replaces Gordon Stitt, who becomes chairman of Extreme's board in a transition announced in May. (See Extreme Names CEO and Stitt Gets Less Extreme.)
Extreme's earnings have managed to disappoint analysts for three quarters running -- although Stitt notes that his decision to retire as CEO came some time ago and isn't related to Extreme's situation, good or bad. (See Extreme Scores Hat Trick.)
Canepa, meanwhile, is a 10-year veteran of Sun who took over that company's storage efforts in 2001. He ended up leaving last May -- voluntarily, according to the official release -- as the company began what would become a large-scale restructuring under new CEO Jonathan Schwartz. (See Sun Takes Action Amidst Concerns and Schwartz Shakes Up Sun.)
Sun has a less than stellar reputation in storage, and its $6.1 billion acquisition of StorageTek -- arguably the biggest event in Canepa's tenure -- didn't do much to change that. (See Sun to Acquire StorageTek for $4.1B and What Sun Could Have Bought Instead.)