Symantec has fired CEO Steve Bennett

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Symantec Corporation has fired its president and CEO Steve Bennett. This is the second time that Symantec has fired a CEO in under two years.

 

Symantec is best known for creating the Norton antivirus software. Symantec has been struggling in getting consumers and businesses to sign up for subscriptions rather than one-time licensing. Symantec also builds data management and security software for enterprise customers. The company has been pursuing a reorganization to deal with weak earnings.

Symantec named Michael Brown as the interim president and CEO effective immediately. The company is now seeking a permanent CEO through an executive search company.

“This considered decision was the result of an ongoing deliberative process, and not precipitated by any event or impropriety,” stated Symantec Chairman Daniel Schulman. “Our priority is now to identify a leader who can leverage our company’s assets and leadership team to drive the next stage of Symantec’s product innovation and growth.”

Bennett joined the Symantec board of directors in 2010 and took the CEO and president roles at Symantec in July 2012. He replaced Enrique Salem. Brown joined Symantec after the company merged with Veritas Software in 2005. Brown used to work as the chairman and CEO of Quantum Corporation.

[Source: WSJ]

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