Symantec Corporation Appoints John W. Thompson,
Senior IBM Executive, as President, CEO and Chairman
Former GM of IBM Americas will focus on enhancing shareholder value
and driving Symantec's Internet strategy
Cupertino, Calif. April 14, 1999 - Symantec Corporation (Nasdaq:
SYMC) today announced that John W. Thompson, a career executive at
International Business Machines Corporation, and general manager of
IBM Americas, a $37 billion business unit, has been appointed
president and chief executive officer and will be appointed chairman
of the Board of Directors of Symantec. Carl Carman, Symantec's
current chairman, will remain on the Board of Directors.
Thompson, 49, brings to his new position nearly three decades of
experience at IBM, much of it in customer and partner relations,
management, and high-level marketing. His 30,000 employee
organization worked with corporate customers, national and local
government agencies, and small business owners in the United States,
Canada, and Latin America to help them move their businesses and
services to electronic commerce.
"Symantec has been a software leader for well over a decade and my
focus will be to strengthen this leadership in three key areas," said
Thompson. "First, I'll continue directing our great people and
technology on meeting customers' needs; second, I'll work to
aggressively execute our Internet strategy which will allow us to
extend our leadership from the PC computing area to serving a
connected world; and third, I'll work to maintain strong financial
health and return on investment for shareholders."
"Symantec is extremely fortunate, and obviously very pleased to have
someone of John's experience and ability to lead the Company to the next
phase," said Gordon Eubanks, former president and CEO of Symantec.
"I look forward to seeing a continuation of great successes from
Symantec into the next millennium."
In January this year, Eubanks, who has headed Symantec since 1983,
announced that he would step down as the company's president and
chief executive when a successor was appointed. He will now become
CEO of Oblix Inc., an enterprise software start-up company based in
Mountain View, CA and will leave Symantec's Board of Directors.
The IBM Americas business accounts for 10 percent of all information
technology spending in the U.S., Canada, Mexico, Central America and
South America. As general manager, Thompson significantly improved
profitability for each of the last two years. According to major
polling services, IBM garnered the highest percentage of satisfied
customers among computer companies in the Americas during Thompson's
tenure. In addition, employee morale at IBM Americas reached record
levels under Thompson, according to a formal IBM opinion survey.
Previously, Thompson was general manager of IBM's personal software
products division and general manager of a marketing department that
supported a diversified software company within IBM. Prior to that,
he was head of marketing of IBM's U.S. operations.
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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