One of the first roles for the fresh CEO at Symantec was to reveal that its revenues were hovering just above flat for the first quarter of its fiscal year.
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Symantec president and CEO Enrique Salem, has stepped down and the board of directors has appointed Steve Bennett as his replacement with immediate effect, in addition to his continued role as chairman of the board.
“Enrique Salem has been a significant contributor during his 19 years’ associated with Symantec, including the last three years as CEO," said Bennett, "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.”
“The board’s decision to make a leadership change was not based on any particular event or impropriety but was instead made after ongoing consideration and a deliberative process,” said Dan Schulman, Symantec’s lead director. “We are fortunate as a board to be able to name Steve as CEO and achieve continuity in leadership. Steve understands the company well, had a great track record at Intuit and General Electric and is a perfect fit for moving the company forward.”
For the first quarter of fiscal year 2013, ending June 29, revenue of $1.668 billion, was up by a single percent.
“Symantec delivered another solid quarter. The company’s investment in cloud security and mobility continues to gain momentum and position us well worldwide,” said Bennett, “We are making progress on many fronts, but believe we can further accelerate the company’s value to employees, customers, partners and shareholders.”