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Broadband

Emulex shakes up with new board members, savings, buy-backs

Tuesday 12 November 2013 | 09:36 CET | News
Converged networking services provider Emulex has started a major cost savings programme that is expected to generated USD 30 million in annual cost savings over this fiscal full year. The plan expands on the previously announced USD 10 million cost cutting initiative at Emulex's connectivity business. The company is looking to immediately return capital to shareholders while upping profitability and free cash flow. It will add three executives to its board of directors, to help drive its transformation. It has also approved a USD 200 million share repurchase programme, to start immediately,

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Categories: Fixed
Companies: Emulex
Countries: World
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