VMware CEO Paul Maritz To Step Down
Paul Maritz will cede his four-year stint as CEO of virtualization company VMware on September 1.
He'll be succeeded by Pat Gelsinger, who currently serves as the Information Infrastructure Products president and chief operating officer at EMC, the parent company of VMware.
Maritz isn't going anywhere, though. Instead, he'll stake out a position with EMC as chief strategist. Maritz will also continue to sit on the Board of Directors at VMware.
The news of the executive reshuffle comes on the same day that VMware offered a sneak peek at its Q2 2012 financial results that arrive in a "record" quarter. The company reported preliminary revenue of $1.123 billion, representing a 22 percent increase over last year's revenue figure. Maritz, Gelsinger and EMC Chairman and CEO Joe Tucci participated in an earnings call this afternoon to explain the company's revenue results and to address the executive reshuffle.
VMware will host an earnings call on the finalized Q2 results on July 23. To read the announcement from VMware, go here.
Michael Domingo has held several positions at 1105 Media, and is currently the editor in chief of Visual Studio Magazine.