Symantec says it terminated CEO Steve Bennett

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Associated Press

Posted on March 20, 2014 at 6:01 PM

Updated Thursday, Mar 20 at 6:01 PM

NEW YORK (AP) — Security software maker Symantec says it terminated President and CEO Steve Bennett's employment and named director Michael Brown as his temporary replacement.

Bennett had been president and CEO of the company since July 2012, and Symantec says he resigned from the board of directors after his termination. The Mountain View, Calif., company did not cite a precise reason for Bennett's ouster.

"This considered decision was the result of an ongoing deliberative process, and not precipitated by any event or impropriety," Symantec Chairman Dan Schulman said in a press release.

Brown has been with the company since July 2005, and he is a former chairman and CEO of Quantum Corp.

Symantec Corp. shares fell $1.58, or 7.5 percent, to $19.33 in aftermarket trading.

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