SAN JOSE — Storage networking company Brocade, which has been the subject of buyout speculation in recent years, announced the hiring Monday of new CEO Lloyd Carney, who ran upstart competitor Xsigo before it was bought by Oracle(ORCL) last year.

Carney, 50, will succeed Michael Klayko, who announced last summer that he planned to retire from Brocade after running the company since 2005.

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