Brocade Shakes Up Management Ranks

Storage infrastructure firm Brocade (BRCD Quote) Wednesday announced the promotion of three of its top executives, including CEO Greg Reyes, upon whom the company bestowed the additional title of chairman of the board.

Brocade also said that Vice President of Finance Tony Canova will become chief financial officer, replacing Michael Byrd, who has been promoted to president and chief operating officer.

Reyes, who replaces Brocade co-founder Seth Neiman as chairman, will keep his title of CEO and step down as president. Neiman, who hasn't been a very visible presence at Brocade in recent years, will retain a seat on the board.

Reyes expressed his delight in a statement. "I am delighted to expand my role at Brocade to increase my focus on leading the company through its next phase of growth," he said. "With the support of our entire executive team and the expanded roles of Mike and Tony, Brocade is well-positioned for continued growth in providing the world's leading intelligent platform for networking storage."

All changes are effective immediately, the company said.