Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact

Symbol Name
Click for Symbol Help

VMware Ousts CEO Diane Greene

BusinessWeek - Jul 8, 2008

VMware ended a long-running battle over its strategic direction on July 8, ousting co-founder and CEO Diane Greene and installing Microsoft veteran Paul Maritz in her place. Investors pounded VMware's once high-flying stock on the shakeup and a warnings on sales growth. Still, Maritz's ascent could be just the tonic investors have sought as the company squares for a fight with the new CEO's former employer and grabs turf in the emerging cloud-computing market.

For months, Wall Street has been pressuring EMC (EMC), which owns most of VMware's (VMW) stock and controls virtually all of its voting rights and board, to replace Greene. She co-founded VMware a decade ago and sold it to storage vendor EMC in 2004, and stayed at the helm after VMware's blockbuster IPO last year. But Wall Street analysts and people close to the company say Greene clashed with EMC management over costs, the company's independence, and its ability to strike deals to distribute its software with EMC competitors like IBM (IBM) and Hewlett-Packard (HPQ). As VMware prepared to lower its 2008 sales estimate for the second time in six months, warning that revenues would fall "modestly below" previous guidance of 50% growth, the board made its move.

Read Full Article from BusinessWeek

- Posted: 2008-07-08 21:19:43

 More Stock Investor Place Company News  
Alibaba's Jack Ma Is Moving On, With an IPO Looming
Pfizer’s Possible Unit Shuffle Triggers Breakup Concern
Lululemon Raises 4th-Quarter Guidance But Misses Expectations; Shares Down
Dell Shares Surge After Report of Possible Buyout
ARMZ Seeks Rest of Uranium One for $1.3 Billion; Won’t Raise Bid

 Stock Investor Place Company News Archive
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008

Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2023 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise