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Symantec Fires CEO In Surprise Move
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Mathew
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Mathew,
User Rank: Apprentice
3/24/2014 | 7:29:29 AM
Re: Wrong CEO blamed for the Veritas aquisition
Thanks for the catch. Yes, Salem was group president at the time of the Symantec Consumer Business Unit, although he reportedly also backed the Veritas acquisition, and of course did later become CEO. 
Madhava verma dantuluri
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Madhava verma dantuluri,
User Rank: Apprentice
3/24/2014 | 12:50:22 AM
Is it?
Surprise move and wonder whats ahead for Symantic now.
danielcawrey
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danielcawrey,
User Rank: Apprentice
3/23/2014 | 7:36:12 PM
Re: Symantec Inovation
Information security is incredibly important, which is why I think that Symantec can turn things around. 

Sure, the New York Times story is not positive. But companies that can face up to challenges like this are the ones that come out stronger in the end. I can't speculate as to why Symantec decided to get rid of its CEO, but the consensus must have been that it would be for the best. 
LibertySure
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LibertySure,
User Rank: Apprentice
3/22/2014 | 5:57:00 PM
Symantec fires CEO
Given that we don't know the exact reason why the umpteenth CEO was fired, I do not understand some of the reasons purported here, especially that the company would have its attention diverted because it's in both the storage and the security business.

The security that Symantec provides automatically translates to a higher confidence when one uses their storage ware. I see that as a huge plus factor and something that should increase the scope for market penetration, not hinder growth or market cap, if handled correctly.

Surely, a company as prominently within the data universe as Symantec is, shouldn't suffer attention deficit because it uses the same platform for data storage as it does for security. What are they? Single cell organisms?

In my (not always) humble opinion, this dismissal is more indicative of a personality problem with the ownership or the Board, than the business end of the company, especially since Bennett has been making money for the owners.

Something doesn't smell right.
Stratustician
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Stratustician,
User Rank: Moderator
3/22/2014 | 11:58:32 AM
Simplify!
Coming from the IT security world, it doesn't seem like that long ago that Symantec had quite the positive reputation in IT security.  I think the big issue really comes down to the lack of focus, the storage move, while it makes sense in some cases, really confused folks in trying to figure out what Symantec is trying to achieve.  Is it meaning to become a large, all things to everyone, or are they really that endpoint security company who expanded to offer some core security solutions for enterprises.  I think marketing has some work to do to really refine the value proposition or we will see them get pushed aside from the other security companies who are tighter in scope.
Alison_Diana
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Alison_Diana,
User Rank: Moderator
3/21/2014 | 4:09:02 PM
Re: Too bad you can't fire the owner
It's not a good sign when a company goes through so many top-level executives in such a short time period, although it may not have longterm reperucssions. I'd love to know whether Bennett disagreed with the board's possible wish to spin-off either the security or the storage side of the business. And does the board have a replacement in mind?

If morale was improving, it's hard to imagine it's very good right now. People always feel shaken when things like this happen, especially when there's talk about sell-offs and all that implies about job security.
arocek84001
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arocek84001,
User Rank: Apprentice
3/21/2014 | 3:27:09 PM
Wrong CEO blamed for the Veritas aquisition
A correction to your statement that Enrique Salem was the CEO at the time of the Veritas aquisition. The Veritas aquisition was driven by then CEO John Thompson. 

 
Andrew Binstock
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Andrew Binstock,
User Rank: Apprentice
3/21/2014 | 3:02:19 PM
Symantec's many businesses
It's hard to believe now, but at one time Symantec was even in the business of selling software development tools. In the 1990s, they sold a rather well-respected C++ compiler and IDE.
DDURBIN1
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DDURBIN1,
User Rank: Apprentice
3/21/2014 | 12:45:16 PM
Too bad you can't fire the owner
The problem with Symantec and a lot of other publicly traded IT corporations are their board of directors whom sit at the grace of the ownership or whom are owners of the corporation themselfes.  Like a professional sports team, a revolving coaching team means poor ownership.  I'm sure the next CEO at Symantec will be the same penny pinching wall street type (or GE type) that runs things by the numbers not by industry knowledge.
proberts551
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0%
proberts551,
User Rank: Apprentice
3/21/2014 | 12:24:42 PM
Symantec Inovation
I like the Symantec software better than McAfee.  The problem I found with both of these products is that I tested both with an infected thumb drive.  When inserted to either of these products, the computers were infected instantly.  There were no warnings, nothing.  McAfee never did detect the viruses even when scanned.  Symantec detected and quarenteened them only when I scan for viruses.  MS Security Essentials which is a free product, stopped the viruses before the got to the computer. 

I was shocked.  I expected that the "World class" products would have been able to do the job of the free antivirus.  A 3 year old, not updated version from a stand alone computer of NOD32 caught them as well. 

The genuis of Peter Norton is not reflected in the current product when compared to the competition.  It used to be that nothing could compare to the Norton products.  The CEO's even though they can get fired, are doing just fine floating down gracefully in the golden paracutes.  Should they have no paracutes?


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