Activist Starboard and Elliott's Target, Emulex CFO Resigns

Emulex Corporation (NYSE:ELX), a provider of data networks, is under the eyes of two noted U.S.-based activist investors these days. Paul Singer's Elliott Management has a 10 percent position, whereas Jeffrey Smith from Starboard Value has a 7.9 percent stake in Emulex, updated last week as per a 13D/A filing. Today Emulex made two major announcements, one of which was that its CFO,  Michael J. Rockenbach, has resigned from the company, effective December 31. Rockenbach has been with Emulex since 1991 and has held the position of Chief Financial Officer since 1997.

Emulex also extends standstill with Elliott

Emulex Corporation (NYSE:ELX) also said in its press release that the standstill...