Brocade CEO Carney Says Not Planning Sale of the Company

Brocade Communications Systems Inc.’s newly appointed Chief Executive Officer Lloyd Carney said there are no plans to sell the networking-equipment maker, which had been seeking a buyer under his predecessor.

While Brocade is “best as a standalone player” and not a “short-term proposition,” fiduciary responsibility would require him to look at any “stupid money” offers, Carney said in an interview. Carney, who has experience selling companies, was named on Jan. 14, replacing Mike Klayko.