Symantec boss Greg Clark exits biz amid dismal financials
Greg Clark, CEO and president of Symantec, has "stepped down" suddenly and with no permanent replacement lined up, just as his predecessor did.
The beleaguered security house said Clark's departure was "effective immediately" and it named semiconductor veteran and current Symantec director Richard Hill as interim boss.
"As we enter into a new financial year, Greg and the board agreed that now is the right time to transition leadership, and we are confident in Rick's ability to drive the company forward while we work to identify a permanent successor."
Clark was the boss of Blue Coat when Symantec bought the business for $4.65bn in 2016, and he was chosen to fill the vacancy left by Mike Brown, who had also left abruptly.
The changes were made public last night as Symantec outlined financial results for Q4 of its fiscal 2019, which showed a disappointing set of sales figures though cuts in expenses helped lift profit.
On a conference call, Hill – who has worked with Symantec as an advisor since October and been a director since January – said he was told by Clark in April that "he had personal issues he needed to attend and wanted to spend more time with his ageing father".
But the timing, as Symantec released numbers for the three months ended 29 March, was impeccable: sales dipped 1.7 per cent to $1.19bn, lower than analyst estimates of $1.21bn.
"Enterprise revenue came in slightly below the low-end of our guidance range, with consumer revenue at the high-end of our guidance range," said Nick Noviello, Symantec's CFO, who confirmed at the end of January he is also leaving the company.
Former Logitech beancounter Vincent Pilette is taking over the finance division at Symantec.
A drop in operating expenses – lower spending on R&D and general and admin costs – played a part as operating profit came in at $107m compared to $6m a year ago. Net profit was $34m versus a loss of $59m.
For the year, revenue slipped to $4.731bn from $4.834bn and net profitwas just $31m, a huge dive from the $1.138bn reported a year earlier.
It has been a challenging time for Symantec: a shareholder is suing the company, claiming senior management fraudulently massaged the profit and loss accounts; 8 per cent of the workforce were axed to counter falling enterprise sales; and it was forced to launch an internal probe into claims by an ex-staffer about accounting issues, one which the SEC is now investigating too.
Industry: Cyber Security News
- Lead Cyber Security Incident Response Consultant.
- United Kingdom
Seeking skilled and passionate UK-based individual for a Lead Cyber Security Incident Response Consultant opportunity 3 core skillsets for the role Hands on technical incident response (triage and planning). Business consultancy (engaging with clients). Commercial awareness. Being able to engage in business growth conversations. Consultancy experience is an essential as it the ability to visit clients and the office. Additional experience will include, but not be limited to: Developing incident response strategies, guides and procedures for effective incident handling Proactive and reactive defense plans based on cyber threat actors' techniques Offering guidance, supervision, and fostering opportunities for team development Significant career development opportunities for the right individuals.
- OUTSIDE IR35 Contract- Functional tester- SC clearance Microsoft Windows Server
- Outside IR35 contract
Front End Functional tester with SC clearance needed for an Outside IR35 project. Current valid SC clearance is required Experience with functional testing with exchange, sharepoint, SQL and other applications relating across a windows server Migration to 2019. Must be able to get to Central London 3 days a week. Jira, Wiki documentation and automation experience highly desirable.
- ForgeRock Consultant- UK
- United Kingdom
- Upto £100,000 plus benefits
ForgeRock Consultant/ Architect is require for niche consultancy who are looking to expand their presence within the UK/European Market Looking for a lead IAM architect, ideally with ForgeRock experience but would consider other vendors, But looking for someone who is able to advice and consultant with Clients but have the implementation background so they can get involved in projects as and when needed. Key duties will be: Provider IAM consultancy to clients, with a focus on ForgeRock Product stack ·Responsible for the design and implementation of ForgeRock solutions ·Install and configure ForgeRock stack to meet customer authentication and authorization requirements, ·Design and implement OAuth2 protocol using ForgeRock OpenAM, ·Design and develop OpenAM custom authentication modules, ·Configure ForgeRock stack to protect RESTful API, ·Troubleshoot and support ForgeRock IAM stack. This is a great role to join a niche play as they look to kick of their European expansion
- ForgeRock Consultant- Netherlands
ForgeRock Consultant required for 6 Month Contract This will be a mix of on site and home based, so need people to be based in the Netherlands We are looking for a lead ForgeRock Technical Consultant/ Architect with strong experience of ForgeRock to lead a new deployment project. ·Responsible for the design and implementation of ForgeRock stack ·Install and configure ForgeRock stack to meet customer authentication and authorization requirements, ·Design and implement OAuth2 protocol using ForgeRock OpenAM, ·Design and develop OpenAM custom authentication modules, ·Configure ForgeRock stack to protect RESTful API, ·Troubleshoot and support ForgeRock IAM stack. ·Designed and developed Restful APIs, This is a great project with an expanding leading IAM player within Europe, We are looking for someone with the above experience, who is comfortable hitting the ground running and taking on the reins at the start of a project