Wednesday, July 25, 2012
Symantec Replaces CEO Veteran Enrique Salem
It has to be a sad day when you lose your CEO title and the company stock has its biggest gain since July 2001, 17%. Symantec has replaced Enrique Salem with board chair Steve Bennett. Symantec stock has been dropping steadily from a 52 week high of $19.81 to a recent low of $13.06. Revenues and profits for the most recent quarter failed to meet analysts’ estimates.
"While progress has been made over the last three years in many areas, it was the board's judgment that it was in the best interests of Symantec to make a change in the CEO." said Steve Bennett, chairman, president, and CEO
Salem had a 19-year tenure at Symantec, in a variety of roles.