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VMware ousts boss as forecasts not met
Diane Greene out as shares crash by nearly a third
Iain Thomson in San Francisco, vnunet.com09 Jul 2008
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The chief executive and co-founder of VMware has been ousted from the board
after the company warned that it would not hit its sales forecasts.
Diane Greene, who co-founded VMware in 1998, will be replaced by Paul Maritz,
former president of EMC's Cloud computing division.
"As one of the founders and the leader of VMware, Diane guided the creation
and development of a company that is changing the way people think about
computing," said VMware chairman Joe Tucci.
"The board thanks her for her considerable contributions to VMware and wishes
her every success in the future."
The news broke as VMware announced that its sales figures were expected to be
"modestly below" the 50 per cent growth the company had predicted.
The markets reacted sharply, and shares in the company have fallen 30 per
cent so far.
The news came at a particularly damaging time, given
Microsoft's
aggressive entry into the virtualisation market.
The move is a sorry end for Greene. She set up the company with her husband
Mendel Rosenblum and Scott Devine, Edward Wang and Edouard Bugnion and it
quickly became the market leader in virtualisation software.
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