Blue Coat names new CEO


Blue Coat names new CEO

Alex Scroxton

Blue Coat CEO Brian NeSmith is to step aside to take up a technical role within the company and will be replaced by newcomer Michael Borman, the firm has revealed.

Borman joins the WAN optimisation vendor from switch vendor Avocent, which was acquired by Emerson Electric late last year. Prior to that, he spent 30 years at IBM, where he headed up the global product and sales organisations for a time

NeSmith, meanwhile, will focus on product strategy, direction and development in his newly-created role.

"This is a natural evolution that reflect's Blue Coat's increasing scale and complexity and provides the leadership depth and strength we will need for the enxt phase of growth," said Blue Coat chairman Dave Hanna.

"Mike's executive management skills will eb a great complement to Brian's vision and passion for Blue Coat's technology and products," Hanna added.

In its most recent set of financial results, out in mid-August, Blue Coat posted sales of $122.5m (£79.16m), up 6% year-on-year, and net income of $13.9m, up from $4m this time last year.

NeSmith said that despite "difficulties in achieving our EMEA revenue potential", Blue Coat's investment in the mid-market and carrier business was starting to pay off.

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