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,

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Fixed
Companies: Emulex
Countries: World
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Bandwidth, speeds exploding with hyperscale deployment-study

Published 28 Oct 2014 10:54 CET | World
Bandwidth and network speeds are exploding as a result of the move to hyperscale data centre environments, according to a survey ...

Emulex appoints Wescoat as SVP and CFO

Published 08 Jan 2014 09:11 CET | World
Converged networking services provider Emulex has appointed Kyle Wescoat as its senior vice-president and chief financial ...

Emulex to cut 110 jobs as part of new restructuring plan

Published 12 Dec 2013 09:39 CET | World
Converged networking services provider Emulex will reduce its workforce by 10 percent, or 110 jobs, as part of a restructuring ...

Emulex prices offering of USD 150 mln worth of notes

Published 14 Nov 2013 11:18 CET | World
Converged networking services provider Emulex has priced its private offering of USD 150 million worth of senior notes (1.75%) ...

Emulex announces EVP, CFO to depart company

Published 20 Sep 2013 17:43 CET | World
Network connectivity company, Emulex has announced that Michael J. Rockenbach, the company's executive vice president and chief ...

Emulex narrows net loss significantly in Q4

Published 09 Aug 2013 09:48 CET | United States
Network connectivity company Emulex narrowed its net loss significantly in the fourth quarter ended 30 June to USD 4.6 from USD ...

Emulex appoints Frantz and Clark to board of directors

Published 01 Apr 2013 19:36 CET | World
Emulex has announced that Gene Frantz and Greg Clark have been appointed to the Emulex board of directors. Frantz was most ...

Emulex completes acquisition of Endace

Published 01 Apr 2013 17:08 CET | World
Network connectivity, monitoring and management company, Emulex has announced the completion of its acquisition of Endace ...