The news follows Symantec’s first quarter results which saw profits fall by 10% to $172m (£111m) for its first quarter and sales growth of 1% to $1.69bn.
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The board of directors has appointed Steve Bennett president and chief executive officer, in addition to his continued role as chairman of the board.
Bennett said: “My view is that Symantec’s assets are strong and yet the company is underperforming against the opportunity.”
“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 newly-appointed lead director.