Thursday, March 20, 2014

Symantec Axes Top Guy: Is that a Good Idea after the Hack of the Decade?

With the most massive hack in US history just a few months ago I'm not sure if it is a good time to fire your CEO.


"It's a jaw-dropping move, especially because Bennett was key to the company's turnaround. I view this as a major step back ...," FBR Capital Markets analyst Daniel Ives said.
Forrester Research analyst Rick Holland said Symantec had been losing market share to nimbler network security software makers such as FireEye Inc, Palo Alto Networks Inc and Checkpoint Systems Inc.

Symantec said it was committed to its target of more than 5 percent organic growth and higher than 30 percent adjusted operating margin by fiscal 2017.

However, BMO Capital analyst Joel Fishbein said it would be difficult for Symantec to achieve 5 percent revenue growth without mergers and acquisitions or divestiture due to a continuing fall in its main PC security and storage businesses.

Part of the problem is that Norton Anti-Virus is a primarily a consumer PC based program and that platform is slowly dying. You don't hear much about tablets or smart phones being hacked as much as PCs are so there really isn't a need for their main product. 

Most corporations would use a different kind of anti-virus product or just go to FireEye for an end-to-end product. I think Symantec really needs to buy out a new era network security firm like FireEye in order for them to stay relevant. 

Also with a look at their site it seems that there are like a 100 different products jumbled together in a mess. Let's say I'm a small business looking to beef up my security after hearing about Target getting hacked. I have no idea where to start or what product I should be looking for. Do I need Risk Automation Suite or NetBackup Appliance 5000 series or what. They seriously need to break these into different groups to make it easier to look at. 


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