Feeds

Former Brocade CEO sent flying in golden skies

Heck of a consultant

  • alert
  • submit to reddit

Providing a secure and efficient Helpdesk

Being benched isn't so bad, especially when you're riding the pine on an all-expenses paid private plane.

Just ask Greg Reyes the former CEO of Brocade. He'll receive $910,000 per year over the next two years, working as Brocade's consultant. In this role, Reyes will help out with Brocade's "strategy and vision [and] customer-related activities."

And he'll be doing all this in style. "The Company will reimburse the Consultant for the expense incurred by the Consultant in the operation of his private plane, when used for Company business, up to the first class ticket market rate charged by commercial airlines," Brocade said in a filing with the US Securities and Exchange Commission.

That's a class package if you consider that Reyes was bluntly evicted from his posts as CEO and Chairman of Brocade back in January. Reyes was replaced as Brocade tried to deal with accounting irregularities uncovered during an internal audit. After it announced new financial results for 2002, 2003 and 2004, Brocade tapped onetime VP Michael Klayko as its new CEO, and gave Dave House the chairman role.

Brocade recovered from this embarrassing episode to post solid first quarter financial results last week. It reported an 11 per cent rise in revenue to $162m. ®

Related stories

EMC whistleblower says Symmetrix coverup caused nervous breakdown
EMC rides coders to banner Q4
Brocade makes income and CEO disappear
Brocade to fix two years of earnings after audit

Security for virtualized datacentres

More from The Register

next story
Wanna keep your data for 1,000 YEARS? No? Hard luck, HDS wants you to anyway
Combine Blu-ray and M-DISC and you get this monster
US boffins demo 'twisted radio' mux
OAM takes wireless signals to 32 Gbps
Apple flops out 2FA for iCloud in bid to stop future nude selfie leaks
Millions of 4chan users howl with laughter as Cupertino slams stable door
No biggie: EMC's XtremIO firmware upgrade 'will wipe data'
But it'll have no impact and will be seamless, we're told
Students playing with impressive racks? Yes, it's cluster comp time
The most comprehensive coverage the world has ever seen. Ever
Run little spreadsheet, run! IBM's Watson is coming to gobble you up
Big Blue's big super's big appetite for big data in big clouds for big analytics
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.