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Brocade Switches CEOs, Restates

The board of directors of Brocade Communications Systems Inc. (Nasdaq: BRCD) has appointed Michael Klayko as CEO. Greg Reyes has been reassigned to a board post and will act as a consultant (see Brocade Names CEO, Completes Audit).

"It is with mixed emotion today that I announce my passing of the baton as Brocades chairman and CEO," Reyes told analysts on a conference call late today. "It's now time for me to transition into a new role in the company." Reyes has been at Brocade for six years.

Klayko is the former CEO of Rhapsody Networks, which Brocade purchased for $175 million early in 2003 (see Brocade Scoops Up Rhapsody and Brocade Completes Rhapsody Buy). He took over as VP of worldwide sales in the wake of the merger of OEM and end-user/channel sales after the VP of sales jumped ship last June (see Maranti Lands Brocade VP).

"I'm honored that the board of directors has... trusted me to lead the company in its next phase," Klayko said.

When asked, Klayko said no one will be replacing him as head of sales for the foreseeable future.

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