California: Symantec has announced termination of CEO Steve Bennett from the company.
The company did not reveal details.
Symantec chairman Daniel Schulman recognised Steve’s contributions to Symantec, including developing and leading initiatives focused on organisational realignment, cost reduction and process effectiveness.
“Our priority is now to identify a leader who can leverage our company’s assets and leadership team to drive the next stage of Symantec’s product innovation and growth. This considered decision was the result of an ongoing deliberative process, and not precipitated by any event or impropriety,” Schulman said. Symantec had earlier split the roles of CEO and Chairman after posting 4 percent increase in revenue in third quarter of fiscal year 2013.
Symantec posted 4 percent growth in revenue in third quarter of fiscal year 2013 at $1.79 billion.
In January 2013, Symantec had announced new plans to improve revenue of the company. It will reduce work force as part of new strategies. Symantec is focusing on 10 key areas that combine existing products and services into new, innovative and
comprehensive solutions that meet multiple customer needs with integrated and higher value offerings.
Recently, Microsoft veteran Amit Mital joined security solutions vendor Symantec as chief technology officer. Mital will be responsible to drive the company’s technology strategy with a focus on accelerating innovation, product development and R&D.
Michael Brown will be interim president and chief executive officer. Its board will immediately start the search for a permanent CEO with the assistance of a leading executive search firm.
Brown joined Symantec’s board following the company’s merger with Veritas Software in July 2005, and previously served as chairman and chief executive officer of Quantum. Under his leadership, Quantum grew from $3 billion to $6 billion in revenues and held market leadership positions in data back-up and archiving solutions.