Symantec sacks CEO Enrique Salem as Q1 profits drop 10%

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Symantec sacks CEO Enrique Salem as Q1 profits drop 10%

Kathleen Hall

Symantec has sacked CEO Enrique Salem as the security supplier's profits fell in its latest results.

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.

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.

 


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