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

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)
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