3Com CEO Stepping Down

3Com's President and CEO, Bruce Claflin, will retire at the conclusion of an executive search for a replacement, which currently is underway

January 11, 2006

2 Min Read

MARLBOROUGH, Mass. -- 3Com Corporation today announced that its President and Chief Executive Officer, Bruce Claflin, will retire at the conclusion of an executive search for a replacement, which currently is underway. Claflin's retirement is consistent with a succession plan agreed to with the 3Com Board of Directors.

"Under Bruce's leadership, 3Com developed a strategy to become a leading global provider of secure converged networking solutions for small, medium and large enterprises," said Eric Benhamou, Chairman of 3Com. "In support of that strategy, 3Com implemented a highly unique approach to competing in the networking market through the creation of our joint venture with Huawei. Furthermore, Bruce established 3Com as a leader in a high-growth market for network security through the TippingPoint acquisition. Moving forward, the 3Com Board intends to recruit a CEO who can build on the positive trends of the past few quarters as we continue to execute our strategy and drive 3Com toward profitable growth."

Claflin is an active participant in the search for a new CEO, which is being run by a committee of independent directors of the Board. Once a CEO is appointed, Claflin will act as a senior advisor to the new CEO and the Board for six months to help ensure a smooth transition of leadership for our partners, customers and employees.

"Over the past few years we have made solid progress in the execution of our strategy," added Claflin. "With the improving financial performance of the company in recent quarters, including top-line and gross margin expansion as well as expense control, the company is well-positioned for future growth. These improvements coupled with my personal retirement objectives make this a good time to transition to new leadership."

The company also reconfirmed its plan to reach a breakeven model, before restructuring and amortization expenses, in its fiscal quarter ending February 2007.

Claflin's successor will assume his position on the 3Com Board and as Chairman of Huawei-3Com.

3Com Corp. (Nasdaq: COMS)

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