SOURCE: BlueArc

April 21, 2005 08:01 ET

BlueArc Names Mike Gustafson CEO, Expanding Previous Role as President

Gustafson to Focus on Accelerating Continued Business Growth and New Customer Acquisition; Gianluca Rattazzi Continues in Role of Executive Chairman

SAN JOSE, CA -- (MARKET WIRE) -- April 21, 2005 -- BlueArc® Corporation, provider of the world's highest performance, most scalable network storage systems, today announced that Mike Gustafson has been named chief executive officer, adding to his role as president. Gustafson will continue to manage BlueArc's day-to-day activities, complemented by a strong focus on the company's growth strategy. Gianluca Rattazzi, who previously held both CEO and chairman positions for the company, will continue in his responsibilities as BlueArc's executive chairman.

Since joining BlueArc as the company's president in June of 2004, Gustafson has been largely responsible for the company's customer facing organizations -- overseeing revenue growth of more than 100 percent compared to the previous year, and customer roster expansion of more than 50 percent. Rattazzi, who has performed the role of BlueArc's chairman of the board since the company's inception, took on the responsibilities of CEO in 2002, overseeing the launch of BlueArc's Titan storage system in early 2004 and the company's rapid market share growth in a highly competitive marketplace. In his fulltime position as executive chairman, Mr. Rattazzi will continue to expand his focus on product development and corporate strategy, aimed at widening the gap between BlueArc's technology and that of its competitors.

"Since Mike came on board in the middle of last year, BlueArc has seen tremendous growth in our sales and marketing efforts and I am confident that he is the ideal successor who will drive us forward," said Gianluca Rattazzi, executive chairman of BlueArc. "Mike's unique skill set and his uncompromising focus on our corporate objectives have already delivered real benefits enabling rapid company expansion."

"I am thrilled to be given the opportunity to serve in this position for one of the technology industry's most dynamic and innovative companies," said Mike Gustafson, president and CEO of BlueArc. "In this role, I will continue to be focused on driving BlueArc's business growth, partnering strategies, and new customer acquisition through unique, differentiated network storage solutions aimed at delivering real-world business benefits for the data driven customers."

About BlueArc

BlueArc® Corporation changes the economics of network storage by helping customers manage more information with less effort. BlueArc's SiliconServer storage systems enable organizations to maximize performance and reduce operating costs through the movement of software functions into programmable hardware. Since 1998, BlueArc has provided scalable and reliable products, services and solutions to help enterprises achieve unmatched productivity and profitability from their data. The company's headquarters are in San Jose, California with UK operations based in Bracknell, England. More information on BlueArc is available on the Internet at www.bluearc.com.

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