Klayko will resign from his role as CEO once a successor is identified by the board
Networking storage application provider Brocade Communications Systems said that its CEO Michael Klayko is planning to step down, despite posting strong third quarter result.
Klayko who had worked with the company for almost a decade, assuming top sales and marketing positions will resign from his role once a successor is identified by the board and a transition is completed.
Brocade chairman Dave House said that Klayko has led the company through two major acquisitions and served over seven years as CEO.
"The Board will prioritize the search process in order to facilitate a seamless transition as expeditiously as possible," House said.
Klayko said: "The Company is in a great position financially, and our product pipeline will continue to strengthen and clearly separate Brocade from other networking providers."
Under Klayko’s leadership Brocade reported revenue of $555.3m for the third quarter ended 28 July 2012, an increase of 10%, compared to $503m for the same period in 2011.
Klayko joined Brocade in January 2003, following the acquisition of Rhapsody Networks for which he served as CEO and president.
In January 2005, Brocade had named Klayko as CEO and a member of the board of directors.
Prior to Rhapsody Networks, Klayko worked at at McData, EMC, HP, IBM, Docutel and TRW.