Paul serves as Executive Chairman of Emulex Corporation after joining the company as President and Chief Executive Officer in May 1993. In this role, he focuses on strategic investments and initiatives for the NYSE publicly traded corporation with a market capitalization of over $1 billion and over 84 million shares outstanding.

Folino was recognized as the 1999 Orange County Co-Entrepreneur of the Year for technology as well as Ernst & Young’s 2000 Orange County Director of the Year for high growth technology. In 2006, he was recognized by the Los Angeles Times as "one of the top 100 most influential" people in Southern California and "Orange County Philanthropist of the Year" by the Association of Fund Raising Professionals. More recently, in 2008 Mr. Folino was recognized by the Orange County Business Journal as one of the “top 50 most influential business leaders” in Orange County.

Paul sits on several nonprofit boards including Chapman University, Cal State Fullerton's Business School, Orange County High School of the Arts and the New Majority. He is married to Daranne and they have one daughter named Courtney.