Saturday, October 9, 2010

New Blue Coat chief will fill board vacancy


Blue Coat Systems Inc. said Friday that its newly installed CEO, Mike Borman, will fill a vacancy on the company's board.New Blue Coat chief will fill board vacancy

Borman, the former head of Avocent Corp., took over at the end of August for Brian NeSmith, who moved into the role of chief product officer after more than a decade leading the company.

Blue Coat provides security hardware and software. It's stock has climbed nearly 20 percent since Borman became CEO, with some analysts speculating that he could be preparing to shop the company to potential bidders.

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