Watch CBS News

Symantec Fires CEO, Replaced By Chairman

MOUNTAIN VIEW (CBS/AP) -- Symantec has fired its CEO, Enrique Salem, and replaced him with Chairman Steve Bennett.

The computer security and data storage company said Wednesday that the move is effective immediately. Bennett, who will stay on as chairman, says it was in Symantec's "best interests" to change CEOs.

Salem had been with the company for 19 years and was CEO for the past three years. Symantec says Salem's departure was not because of a particular event or any impropriety.

Symantec Corp. also says second-quarter net income fell 10 percent. The company earned $172 million, or 24 cents per share, from $191 million, or 25 cents per share, a year earlier. Revenue is up 1 percent to $1.67 billion.

The Mountain View company's stock surged $1.79, or 13.5 percent, to $14.96 Wednesday.



(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)



View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.