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MARLBOROUGH, Mass. - Edgar Masri is leaving as chief executive of 3Com Corp. and being replaced by Robert Mao in the wake of a failed buyout of the network equipment maker.
| COMS | 2.16 |  -0.05 |
The shuffling in 3Com's executive ranks, announced after markets closed Tuesday, leaves Ronald Sege as president and chief operating officer, effective when he arrives at 3Com on Wednesday.
A news release from 3Com did not offer a reason for Masri's departure as CEO.
To support 3Com's emphasis on technology sales in China, Mao will be based in China, rather than at the company's Massachusetts headquarters. Sege will be located in the U.S. and focus on 3Com operations outside China.
Mao, 64, served as 3Com's executive vice president for corporate development from August 2006 to March 2007.
Last fall, 3Com announced plans to be acquired and taken private in a $2.2 billion buyout led by Bain Capital Partners and a Chinese partner.
The deal eventually collapsed amid the U.S. government's national security concerns about a possible transfer to China of sensitive technology.
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