SiliconBeat

Blue Coat Systems is losing its chief financial officer, Kevino Royal, who is going green by joining Maxwell Technologies, the San Diego maker of energy storage and power delivery systems.

Royal, 44, has been with the Sunnyvale network security company since since 2005, taking over from Bob Verheecke, who was later charged, along with the company, of option backdating. Verheecke later settled the matter by paying more than $185,000 in disgorgement, penalties, and prejudgment interest without admitting or denying the allegations.

Prior to Blue Coat, Royal was CFO at Novellus Systems, which was sued over allegations of backdating by investors who later dropped the action.

At Maxwell, Royal will be paid a $275,000 salary and get an option to buy 100,000 shares vesting over four years. Maxwell shares are currently trading at $7.50, below their 52-week average of $9.25. He’s also getting 40,000 shares of restricted stock, half of which will vest over four years and half of which will vest if certain performance measures are met.

Blue Coat’s chief executive, Brian NeSmith, will serve as interim CFO as the company begins an executive search to replace Royal.