Symantec splits Chairman and CEO positions

closeThis article could be out of date, as it was published 1 year 8 months 27 days ago.

Symantec has split the roles of chairman of the board and chief executive officer, with the board electing director Dan Schulman to the position of non-executive chairman, while Steve Bennett remains president and chief executive officer.

After becoming a member of the board in March 2000, Schulman has been president of American Express’ Enterprise Growth group since August 2011.

Previous roles also include serving as president of Sprint’s PrePaid Group and chief executive officer of Virgin Mobile USA, until its acquisition by Sprint in the Fall of 2009.

“I’m excited about Symantec’s prospects and for the opportunity to contribute to its continued success,” Schulman says.

“As CEO, Steve has a vision for where he wants to take the company and help it reach its fullest potential.

I look forward to working with him, the board, and everyone at Symantec to help transform the company to deliver greater value for employees, customers and shareholders.”

Bennett echoed Schulman’s words, saying via a company statement:

“The board and I agree that having an independent director serve as the non-executive chairman is in the best interests of our shareholders,” Bennett says.

“Separating the positions of chairman and CEO allows me to focus on executing the company’s strategic plan and managing the company’s operations and performance.

It enhances the board’s independent oversight of the company’s senior management team and enables better communications and relations between the board, the CEO and other senior management segments of the company.”

New Strategy

Symantec also announced a new strategy which they believe will “streamline and simplify the company so it can deliver significantly improved performance for customers and partners.”

“Symantec’s strategy is clear: We want to enable people, businesses and countries to focus their energies and time on achieving their aspirations, instead of being consumed with how to keep their digital lives safe and protected,” Bennett says.

“This is a story about more focus and better execution by Symantec to make things better and easier for our customers and partners.

“Our path is straightforward: offer better products and services tailor made for customers, and make it easier for them to research, shop, buy, use, and get the help and support they need.”

Offerings

Symantec’s goal is to continue to improve its existing products and services, and at the same time develop new, innovative products and services that solve important unmet or underserved needs.

The security solutions provider says it is focusing on and considering the development of offerings in the following core areas: Mobile Workforce Productivity, Norton Protection, Norton Cloud, Information Security Services, Identity/Content-Aware Security Gateway, Data Center Security, Business Continuity, Integrated Backup, Cloud-Based Information Management, and Object Storage Platform.

“Customers will still be able to pick and choose the solutions they want to use, but from a broader menu of innovative products with higher value,” Bennett says.

“We’re not offering packages that they have to take it or leave it.

“Customers can still decide what’s right for them and buy accordingly, but have the added option of migrating to new integrated offerings which provide added flexibility we know they will need to combat constantly evolving threats, particularly via mobile and the cloud.”

Further plans include the increasing of investment in research and development and homegrown innovation to better meet the next generation’s needs.

“There is a huge set of underserved and unmet needs that customers are experiencing with regards to protecting, moving and managing their information on multiple devices,” Bennett says.

“With our resources and know-how, we are in a better position to meet those needs than anyone.

“We have the infrastructure to deliver real value to help customers and this new strategy will improve both our focus and execution.

“We also have the expertise to know and see what they’re going to need next.  It’s a question of alignment and regaining focus on the current and future needs of customers via a renewed emphasis on innovation plus developing new technology.”

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