New Brocade (BRCD +0.2%) CEO Lloyd Carney tells Bloomberg he has no plans to sell the company,...

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

New Brocade (BRCD +0.2%) CEO Lloyd Carney tells Bloomberg he has no plans to sell the company, even if fiduciary responsibility requires him to listen "if someone shows up with stupid money." Ex-CEO Michael Klayko's August resignation announcement had fueled hopes a sale could happen, but judging by today's lack of movement in Brocade shares, those hopes had died down. Activist investor Elliott Associates has been lowering its stake in Brocade.