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Symantec CEO Enrique Salem steps down; replaced by chairman Steve Bennett

Symantec CEO Enrique Salem steps down; replaced by chairman Steve Bennett

Symantec’s assets are strong and yet the company is underperforming against the opportunity, new CEO says

Symantec President and Chief Executive Officer, Enrique Salem, has stepped down and been replaced by chairman Steve Bennett.

Barnett will continue in his role as chairman and his board duties. Salem has been with Symantec for 19 years including the last there years as CEO, the company announced.

“Enrique Salem has been a significant contributor during his 19 years’ associated with Symantec, including the last three years as CEO," Bennett said in a statement. "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.”

“My view is that Symantec’s assets are strong and yet the company is underperforming against the opportunity,” Bennett added.

Symantec’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, Dan Schulman, Symantec’s newly-appointed lead director, said in the statement.

For the three months ending June 29, Symantec’s net profit fell 10 per cent to $US172m compared to the same period last year.

Its revenues were up slightly at $US1.67bn.


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