3Com Exec to Depart
3Com
(COMS)
says chief Bruce Claflin will step aside when a replacement is found.
The Marlborough, Mass., computer networking shop called the move a planned succession and has begun a search for a new CEO. Claflin has agreed to stay on for half a year after his successor takes the job, to help with the transition.
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Chairman Eric Benhamou praised Claflin in a press release.
"Bruce established 3Com as a leader in a high-growth market for network security through the TippingPoint acquisition," he noted. "Moving forward, the 3Com board intends to recruit a CEO who can build on the positive trends of the past few quarters as we continue to execute our strategy and drive 3Com toward profitable growth."
3Com shares closed down 7 cents at $4.06 Wednesday.
