Cyan Names Floyd CEO

PETALUMA, Calif. -- Cyan today announced that chairman Mark Floyd will assume the role of chief executive officer to help the company capitalize on the tremendous growth opportunities it sees around the world. Cyan has seen its business expand by more than 100 percent in each of the last two years and enjoys strong inroads in several international markets. Floyd joined the Cyan board in 2007 and was appointed chairman in January of this year; he will retain his seat on the board. Earlier in his career, Floyd was CEO at SafeNet, Entrisphere, Efficient Networks, and Siemens ICN US. Cyan founder Michael Hatfield remains the company's president, overseeing overall solution strategy and driving development, engineering, product management, and marketing.

"There is little question that network operators around the world not only see unprecedented pressure to scale network capacity but also to do so with fundamentally more cost-effective approaches," said Floyd. "With a solution that directly addresses these challenges, Cyan has seen significant growth in the U.S. and has begun to expand in Europe and Latin America. We now see an even greater opportunity to increase our investment in international markets and accelerate our growth."

Added Hatfield, "Mark has made meaningful contributions to Cyan since joining the board five years ago. With Cyan's rapid global expansion underway, the timing is perfect for Mark to expand those contributions by joining us on a full-time basis. I am excited to have Mark on board; his track record scaling companies in global markets, his success in working with global tier-one network operators and his experience leading a large software solutions provider will serve Cyan well."

Cyan Inc.