Jeff Benck CEO, Emulex

Emulex Corporation announced that its board of directors has unanimously approved a 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 COO, has been appointed president and 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 COB, also effective immediately.

Paul Folino will step down from his role as chairman and will continue as a director.

 Benck joined Emulex in May 2008 as EVP and COO and was subsequently appointed to the position of president and COO in August 2010. In his role as COO, he oversaw the company’s engineering, marketing, business development, operations and sales organizations. He has also played a role in contributing to the corporate strategy and is focused on further diversifying the product portfolio and delivering growth through the deployment of converged networking. Previously, he served as president and COO at QLogic. Prior to that, he spent 18 years at IBM, most recently serving as VP of xSeries, BladeCenter and Retail Store Solutions development. While at IBM, Benck’s focus included growth initiatives, product development, marketing and strategy, portfolio management and customer relationships. He is known for his role in establishing IBM’s blade server product line.

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. He holds six U.S. patents in the computer systems field.

During his time as CEO, McCluney has transformed Emulex’s product offerings, expanded the business through acquisitions and organic initiatives, while leading the company through numerous economic and strategic events.

"As CEO of Emulex for the past seven years, one of my key responsibilities was to build a strong leadership team. Having worked closely with Jeff over the past five years, I am confident that he and the current senior management team will continue to drive success for the company," stated McCluney. "I will be actively involved in the business as the executive COB, working closely with Jeff and the management team to drive shareholder value while focusing on our long-term strategic plan. I also want to thank Paul Folino for his support and leadership as COB, and I look forward to working closely with him in my new role."

"As the COB, it has been my pleasure to work with both Jim and Jeff on this succession plan, which has been in process for several years," stated Folino. "As Jim transitions to his new role, I look forward to continuing my participation on the board."

"I would like to thank Paul, Jim and the entire board of directors for their confidence and support," stated Benck, CEO, Emulex. "Emulex is well-positioned to execute on our strategic vision and continue delivering value to our shareholders. I am grateful for the opportunity to lead this great company and I am excited about our market opportunities."

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.