Hopes are up that the planned departure of Brocade (BRCD) CEO of Michael Klayko will pave the...

|About: Brocade Communications Syst... (BRCD)|By:, SA News Editor
Hopes are up that the planned departure of Brocade (BRCD) CEO of Michael Klayko will pave the way for a sale of the storage networking leader. "Mike probably wanted a role for himself and a very high price," says a fund manager at Neuberger Berman, which owns 3.3M Brocade shares. Brocade, which has long been looking for a buyer, reportedly saw talks with Blackstone collapse in February due to a rising stock price. Brocade shares slumped in spring, but have rebounded in recent weeks.