VMware Announces Change in Executive Leadership By VSM News Staff published: Tuesday, July 08 2008
Diane Green leaves VMware and is replaced by Paul Maritz as CEO and President of VMware effective immediately
Palo Alto, Calif. -- July 8, 2008 --
VMware's Board of Directors announced today that it has made a change
in the leadership of the company with the departure of Diane Greene as
President and CEO. VMware's Board of Directors has appointed Paul
Maritz as President and CEO of VMware effective immediately. Maritz
was also named to VMware's Board of Directors.
"As one of the founders and the leader of VMware, Diane guided the
creation and development of a company that is changing the way that
people think about computing. The Board thanks her for her
considerable contributions to VMware and wishes her every success in
the future" stated Joe Tucci, Chairman of VMware's Board of Directors.
Tucci continued "VMware is in a tremendous position to extend its
lead in the virtualization market. VMware's Board of Directors is very
pleased to be able to appoint an executive with Paul's experience and
track record to lead VMware to its next stage of growth and
development. Paul is a leader in the software industry. He has decades
of experience building one of the greatest franchises in software
history, Windows. Paul was instrumental as part of the core executive
leadership team in building much of Microsoft's success."
Paul Maritz retired from Microsoft in 2000, after 14 years there.
During this period Paul managed the development and marketing of many
of the company's major products, including such major releases as
Windows 95, Windows NT, Database, Tools and Applications.
In 2003, Paul founded Pi Corporation, a startup software company
focused on building Cloud-based solutions for new ways of doing
personal information management. Pi Corporation was acquired by EMC in
February 2008, and Paul became President of the EMC Cloud Division.
VMware expects to announce earnings for the quarter ended June 30,
2008 as scheduled on July 22, 2008 at 2pm PDT . On that call Paul will
make observations about the second half of 2008. While VMware is not
updating guidance for Q2, we expect revenues for the full year of 2008
will be modestly below the previous guidance of 50% growth over 2007.
About VMware
VMware (NYSE: VMW) is the
global leader in virtualization solutions from the desktop to the
datacenter. Customers of all sizes rely on VMware to reduce capital
and operating expenses, ensure business continuity, strengthen security
and go green. With 2007 revenues of $1.3 billion, more than 100,000
customers and nearly 14,000 partners, VMware is one of the fastest
growing public software companies. VMware is headquartered in Palo
Alto, California and on the web at www.vmware.com.
VMware is a registered trademark of VMware, Inc. in the United
States and/or other jurisdictions. All other marks and names mentioned
herein may be trademarks of their respective companies.
Forward-Looking Statements
Statements
made in this press release which are not statements of historical fact
are forward-looking statements and are subject to the safe harbor
provisions created by the Private Securities Litigation Reform Act of
1995. Such forward-looking statements relate, but are not limited, to
our financial outlook for revenue growth during 2008. Actual results
could differ materially from those projected in the forward-looking
statements as a result of certain risk factors, including but not
limited to: (i) adverse changes in general economic or market
conditions; (ii) delays or reductions in consumer or information
technology spending; (iii) competitive factors, including but not
limited to pricing pressures, industry consolidation, entry of new
competitors into the virtualization market, and new product and
marketing initiatives by our competitors; (iv) factors that affect
timing of license revenue recognition such as product announcements and
beta programs; (v) our customers' ability to develop, and to transition
to, new products, (vi) the uncertainty of customer acceptance of
emerging technology; (viii) rapid technological and market changes in
virtualization software; (ix) changes to product development timelines;
(x) VMware's relationship with EMC Corporation, and EMC's ability to
control matters requiring stockholder approval, including the election
of VMware's board members; (xi) our ability to protect our proprietary
technology; (xii) our ability to attract and retain highly qualified
employees; and (xiii) fluctuating currency exchange rates. These
forward looking statements are based on current expectations and are
subject to uncertainties and changes in condition, significance, value
and effect as well as other risks detailed in documents filed with the
Securities and Exchange Commission, including the report on Form 10-Q
for the fiscal period ended March 31, 2008, which could cause actual
results to vary from expectations. VMware disclaims any obligation to
update any such forward-looking statements after the date of this
release.
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