James M. McCluney, president and chief operating officer of
, 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
, a company that McCluney headed, Emulex said.
Last week, Emulex announced that
it would acquire privately held
, 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.