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Hosting News VMware Replaces CEO with MS Exec web hosting news
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VMware Replaces CEO with MS Exec Jul 9, 2008
According to reports on Tuesday, VMware (vmware.com) rather suddenly replaced its co-founder and CEO, Diane Greene, with former Microsoft executive Paul Maritz.


The announcement seems to have dropped VMware's shares to the lowest it has been since its lucrative public offering in August 2007. VMware's stock price closed just above $53 per share on Monday. After the announcement on Tuesday, it had dropped almost $13 to $40.19 per share.

Maritz has been running the cloud computing division of data storage provider EMC - VMware's controlling shareholder, with an 85 percent stake in the company since 2004 - but will now lead the virtualization software provider's executive team. Maritz was also immediately appointed to VMware's board of directors.

Prior to this, Maritz spent 14 years managing the development of the Windows operating system and marketing for many of the company's major products, including Windows 95 and Windows NT, before retiring in 2000. In 2003, he launched Pi, a start-up software company focused on building cloud-based technology, which EMC acquired earlier this year in February.

In a prepared statement, EMC CEO Joe Tucci said Greene "guided the creation and development of a company that is changing the way that people think about computing" and that the board wished her "every success in the future."

However, according to reports on AP, Greene was believed to have an uneasy working relationship with Tucci, who also chairs VMware's board, and some speculate Greene's departure was quite likely something that Tucci instigated.

Greene's exit was interpreted by many analysts as a sign that VMware wasn't doing as well as EMC had hoped due to a slowing economy and increased competition in the virtualization market from software giants like Oracle and Microsoft, which recently released its Hyper-V virtualization software six weeks ahead of schedule.

Those challenges may have motivated the hiring of a CEO with more operational experience, say analysts.

VMware was founded by Greene and four others, including her husband Mendel Rosenblum, in 1998. Greene and Rosenblum are widely credited for popularizing virtualization and turning it into a hot concept.
Reads: 893 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/070908_VMware_Replaces_CEO_with_MS_Exec.cfm
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