Symantec VP of Worldwide Operations and CFO Resigns
CUPERTINO, Calif --January 4, 1999-- Symantec Corporation
(Nasdaq: SYMC) announced that Howard Bain has stepped down as vice president of worldwide operations
and CFO to become executive vice president and CFO of Informix Corporation, effective today.
Symantec's vice president of finance, Greg Myers, will be acting CFO for Symantec while an executive
search is conducted for a permanent replacement. Mr. Myers, 48, joined Symantec in 1993 and was
previously vice president of financial planning and analysis. He also has responsibility for
Business Development and Investor Relations. "While Howard will be missed, the transition is a
smooth one and Symantec expects to be within the range of analysts' estimates for the December
quarter," said Myers. The company will report its results for the third fiscal quarter ended Friday,
January 1, 1999 on Thursday, January 14.
The company also announced that Derek Witte, 42, has been promoted to vice president of worldwide
operations and will assume Mr. Bain's responsibilities for manufacturing, facilities, purchasing,
legal, and global information services. He will report to Symantec's president and CEO, Gordon
Eubanks. Mr. Witte joined Symantec in 1990, and was previously vice president of legal and general
counsel for the company.
Mr. Bain joined Symantec as vice president of finance in 1991 and had been CFO since 1997. "We
appreciate the contributions Howard has made to our finance and operations groups over the past
seven years and we wish him well as he moves on to a new challenge," said Gordon Eubanks, president
and CEO of Symantec.
During his tenure at Symantec, Howard Bain managed the company's transition to Oracle Financials,
and assisted the company in posting six quarters of record revenue and earnings growth. Howard Bain
said, "I'm proud of the accomplishments in worldwide operations and finance that have supported
Symantec's growth over the last few years. I believe Symantec has the people, products, and
processes that will further enhance its global leadership position."
Symantec is the world leader in utility software for business and personal computing.
Symantec products and solutions help make users productive and keep their computers
safe and reliable anywhere and anytime. Symantec offers a broad range of solutions
and is acclaimed as a leader in both customer satisfaction and product brand
recognition. Symantec is traded on Nasdaq under the symbol SYMC. More information
on the company and its products can be obtained at www.symantec.com.
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