Featured Articles

TSMC: Volume production of 16nm FinFET in 2H 2015

TSMC: Volume production of 16nm FinFET in 2H 2015

TSMC has announced that it will begin volume production of 16nm FinFET products in the second half of 2015, in late…

More...
AMD misses earnings targets, announces layoffs

AMD misses earnings targets, announces layoffs

AMD has missed earnings targets and is planning a substantial job cuts. The company reported quarterly earnings yesterday and the street is…

More...
Did Google botch the Nexus 6 and Nexus 9?

Did Google botch the Nexus 6 and Nexus 9?

As expected, Google has finally released the eagerly awaited Nexus 6 phablet and its first 64-bit device, the Nexus 9 tablet.

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 26 July 2012 09:33

Symantec fires CEO

Written by Nick Farrell



Falling short of great expectations 


Security outfit Symantec has decided that after 19 years with the company its CEO, Enrique Salem is no longer a good fit. Salem has been replaced by Chairman Steve Bennett who will keep his Chairman's hat too.

Salem had been with the company for 19 years and was CEO for the past three years. Symantec says that his exit was not because of a particular event or any impropriety, but that the company had healthy assets and is "underperforming against the opportunity."

Apparently the board was upset that its fiscal first-quarter net income fell 10 per cent because of restructuring costs and a stronger dollar. Symantec also spent more investing in net technology. Bennett is better known as the former president and chief executive officer of Intuit.  When he ruled Intuit the company  grew and expanded into new markets, such as online banking and healthcare.

Symantec earned $172 million in the April-June period which was better than the $1.65 billion that Wall Street expected. However this quarter, Symantec is predicting a revenue of $1.64 billion to $1.67 billion. Analysts are expecting revenue of $1.69 billion.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments