Feeds

Former Brocade CEO sent flying in golden skies

Heck of a consultant

  • alert
  • submit to reddit

Remote control for virtualized desktops

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

Secure remote control for conventional and virtual desktops

More from The Register

next story
NSA SOURCE CODE LEAK: Information slurp tools to appear online
Now you can run your own intelligence agency
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Cloud unicorns are extinct so DiData cloud mess was YOUR fault
Applications need to be built to handle TITSUP incidents
Stop the IoT revolution! We need to figure out packet sizes first
Researchers test 802.15.4 and find we know nuh-think! about large scale sensor network ops
Turnbull should spare us all airline-magazine-grade cloud hype
Box-hugger is not a dirty word, Minister. Box-huggers make the cloud WORK
SanDisk vows: We'll have a 16TB SSD WHOPPER by 2016
Flash WORM has a serious use for archived photos and videos
Astro-boffins start opening universe simulation data
Got a supercomputer? Want to simulate a universe? Here you go
Microsoft adds video offering to Office 365. Oh NOES, you'll need Adobe Flash
Lovely presentations... but not on your Flash-hating mobe
prev story

Whitepapers

Free virtual appliance for wire data analytics
The ExtraHop Discovery Edition is a free virtual appliance will help you to discover the performance of your applications across the network, web, VDI, database, and storage tiers.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.