• Follow us

Internet

Symantec CEO stands down

Symantec's CEO, Greg Clark, is stepping down, effective immediately. The company confirmed the news via a statement, in which it also said it had already started looking for a permanent replacement.

Until that happens, Clark's position will be held by Symantec director Richard Hill, formerly CEO of Novellus Systems. Hill will be interim president and CEO, the company said.

There are a couple of reasons why Clark decided to step down, one of which, according to Hill, were the company results for the fourth quarter and of the year before.

A day earlier, the company released its earnings call for the fourth quarter, which were below analyst estimates.

"For anyone, and certainly someone with the pride of Greg, he doesn't like to see the results that happened in the fourth quarter," Hill said of Greg.

In the earnings call, the company said it stood at 39 cents in earnings per share. Revenue was $1.20 billion, less than the $1.21 billion that was the analysts' estimate.

"When you're at the top of the pyramid, sometimes things happen," Hill added.

Clark became CEO in 2016, after he had replaced Michael Brown. Since Clark started running the company, its shares rose some eight per cent, according to CNBC. This isn't exactly perceived as stunning success, as the S6P 500 had grown some 32 per cent in the same period.

When it was announced that Clark would be stepping down, Symantec's shares fell sharply, 15 per cent.

Image Credit: Symantec

Read More



Leave A Comment

More News

Latest ITProPortal news

What is Industry 4.0? Everything you need to 2019-05-21 10:44:19Industry 4.0 - what's new 22/04 - FEATURE - Andy Coussins/Epicor Software - Six skills need ...

UK businesses prioritise financial loss over consumer trust 2019-05-21 08:00:10Some risk is worth more than the other.

US "underestimates" Huawei, says company founder 2019-05-21 07:30:31Its 5G technology is something ‘no-one could catch up to’, apparently.

Isn’t email supposed to be dead? 2019-05-21 07:00:35One place email certainly isn’t headed? Extinction.

Drone makers could be the next Chinese firms 2019-05-21 07:00:28Any Chinese company that creates data could be at risk.

Sony picked Microsoft cloud deal after AWS talks 2019-05-21 06:30:14Sony and Amazon couldn't agree on pricing.

Google Glass 2 enterprise version launches 2019-05-21 06:00:14New edition will set you back $999.

Turning up the volume on voice commerce 2019-05-21 06:00:12How voice commerce will transform retail - and how.

Looking back at one year of GDPR - 2019-05-21 05:00:49How much longer do we have to wait until GDPR’s privacy promise becomes reality?

Life beyond malware 2019-05-21 04:29:16The traditional cybersecurity model is an outdated one, focused on building up the perimeter defences of an organisation like some sort of medieval fo

Data virtualisation: The key to getting the most 2019-05-21 04:00:53Alberto Pan, CTO at Denodo will be able to look at the potential benefits data virtualisation and provide real, practical advice for companies looking

StrongVPN review 2019-05-20 11:30:48Simple yet effective VPN vendor.

TechRadar: Internet news

How to watch Killing Eve online: stream season 2019-05-22 04:05:30Season two of the hit show is on screens now. See how to watch Killing Eve online for free in the US, or from absolutely anywhere in the world.

Microsoft announces new features for SharePoint and OneDrive 2019-05-22 04:00:36Microsoft is bringing new features to SharePoint and OneDrive to offer greater functionality and improved collaboration.

Get The Sims 4 free today on PC 2019-05-22 03:34:15Life simulator currently going for zero simoleons.

Netflix vs Stan, Foxtel Now and Amazon Prime: 2019-05-22 00:13:45There's some stiff streaming video competition Down Under, so which service will come out on top?

The best PS4 Pro prices, bundles and sales 2019-05-21 23:38:13All the latest PS4 Pro deals and your questions answered.

The best PS4 prices, bundles and sales in 2019-05-21 23:34:31Looking for a great deal on a PS4?

The best Nintendo Switch prices, bundles and sales 2019-05-21 23:21:23Find out where you can buy the Nintendo Switch and find the best deals.

Telstra is discounting its entire range of mobile 2019-05-21 22:15:18Telstra's Click Frenzy deals offer up discounts across every mobile plan with a handset, as well as a SIM-only offer.

Samsung Galaxy S10 5G available in Australia from 2019-05-21 22:11:45Samsung announces local available for its highly anticipated Galaxy S10 5G.

The best 2-in-1 laptop 2019: find the best 2019-05-21 18:58:42Alongside the impressive HP Spectre x360 15T (2019), these are the best 2-in-1 laptops around.

Vizio’s budget V-Series will offer 4K and Dolby 2019-05-21 18:17:56Vizio’s stacked 2019 TV lineup includes a 3,000-nit TV and several ultra-budget Dolby Vision screens.

Apple now accepts 2018 MacBooks into its keyboard 2019-05-21 18:15:13Apple has expanded its keyboard repair program to cover all MacBooks with Butterfly keyboards.


Disclaimer and Notice:WorldProNews.com is not responsible of these news or any information published on this website.