In tandem with its FQ3 report, Brocade (BRCD) announces CEO Michael Klayko, who has held the top...

|About: Brocade Communications Syst... (BRCD)|By:, SA News Editor

In tandem with its FQ3 report, Brocade (BRCD) announces CEO Michael Klayko, who has held the top job for 7 years, intends to resign once a successor is found. Brocade's board has formed a search committee. Shares are still up 1.8% AH, as investors focus on a strong revenue beat fueled by a 24% Q/Q increase in Ethernet switch-related sales, which in turn was driven by a 108% Q/Q increase in federal sales. Earnings call starts at 5:30PM ET (webcast), should feature guidance. (earnings PR)