James M. McCluney, president and chief operating officer of

Emulex

(ELX)

, on Tuesday was promoted to chief executive officer of the storage-networking company. He remains president.

McCluney succeeds long-time CEO Paul F. Folino, who will become executive chairman of the board.

The move was expected and had been under consideration since 2003, when Emulex acquired

Vixel

, a company that McCluney headed, Emulex said.

Last week, Emulex announced that

it would acquire privately held

Sierra Logic

, a component manufacturer for enterprise storage systems, in a deal worth $180 million.

Shares of Emulex closed regular trading with a gain of 27 cents, or 1.6%, to $17.47.