Mark Floyd, former CEO of Efficient Networks, has been named president and CEO of Siemens Information and Communications Networks (ICN) U.S., the network equipment operations for German technology giant Siemens. The Siemens unit garners about $2 billion in annual revenue from its U.S. networking unit, according to the company.
The move may be another step in Siemens' bid to gain a greater share of the U.S. market, even amid a sharp decline in the fortunes of network operators in the United States in recent months. Siemens' U.S. networking operations include technologies for telecommunications networks as well as those built for corporate use.
Floyd joined Siemens ICN as a result of Siemens' $1.5 billion acquisition of Efficient Networks in April of this year. Efficient makes broadband networking equipment for homes and small businesses. Floyd will also join the board of Siemens ICN U.S.
Boca Raton, Fla.-based Siemens ICN consists of several subsidiaries, including Siemens Access Solutions, Siemens Carrier Networks, Siemens Enterprise Networks, and optical networking equipment-maker Optisphere Networks. Start-up Unisphere Networks is also a Siemens affiliate.
"Mark will be responsible for restructuring Siemens' telecommunications business in the U.S., the single largest telecommunications market in the world," Thomas Ganswindt, president of Siemens ICN's worldwide operations, said in a statement.