News
Emulex Announces Leadership Transition
July 2013 by Marc Jacob
Emulex Corporation announced that its board of directors has unanimously approved a leadership succession that will ensure a seamless transition and continued strong leadership at Emulex. As part of this, Jeffrey W. Benck, Emulex’s current president and chief operating officer (COO), has been appointed president and chief executive officer (CEO) of Emulex and a member of the board of directors, effective immediately. James M. McCluney, who has served as Emulex’s CEO since 2006, has been named executive chairman of the board, also effective immediately. Paul Folino will step down from his role as chairman and will continue as a director.
Mr. Benck joined Emulex in 2008 as COO, and was promoted to president in 2010. He has been instrumental in driving the company’s Ethernet strategy, customer and market expansion. During his time as CEO, Mr. McCluney has successfully transformed Emulex’s leading product offerings, expanded the business through acquisitions and organic initiatives, while leading the company through numerous economic and strategic events.
Preliminary June Quarter Results
Preliminary results for the fourth quarter include total net revenues of $119 to $120 million, which is at the midpoint of our May guidance of $118 to $122 million. Preliminary estimated Non-GAAP diluted earnings per share for the quarter are also expected to be in line with our May guidance of $0.11 to $0.13 per share. On a GAAP basis, certain valuation work, including the valuation and purchase price allocation associated with the Endace acquisition, are not yet complete. Therefore, Emulex is unable to estimate or comment on GAAP loss per share for the quarter at this time.
About Jeff Benck
Jeff Benck joined Emulex in May 2008 as executive vice president and COO and was subsequently appointed to the position of president and COO in August 2010. In his role as COO, Mr. Benck oversaw the company’s engineering, marketing, business development, operations and sales organizations. Mr. Benck has also played a key role in contributing to the corporate strategy and is focused on further diversifying the Emulex product portfolio and delivering growth through the deployment of converged networking. Previously, Mr. Benck served as president and COO at QLogic. Prior to joining QLogic, he spent 18 years at IBM, most recently serving as vice president of xSeries, BladeCenter and Retail Store Solutions development. While at IBM, Mr. Benck’s focus included growth initiatives, product development, marketing and strategy, portfolio management and customer relationships. Mr. Benck is widely known for his role in establishing IBM’s blade server product line. Mr. Benck holds a Master of Science degree in management of technology from University of Miami and a Bachelor of Science degree in mechanical engineering from Rochester Institute of Technology. Mr. Benck holds six U.S. patents in the computer systems field.
