According to a latest update, Security software vendor Symantec has fired its Chief Executive Officer Enrique Salem and replaced him with the Chairman Steve Bennett. 

Industry experts added, Salem’s firing news has come just after the company reported that its revenue for the quarter ended June 29. According to which Symantec grew just 1 percent year-over-year to US$1.7 billion, while its profits dropped by 10 percent, falling to $172 million.

It is reportedly said that shares of Symantec jumped nearly 14 percent after news as some investors are expecting that Bennett might consider divesting assets or splitting up the company. 

According to Dan Schulman, Symantec's newly-appointed Lead Director, board’s decision to make the latest leadership change is not based on any particular event or impropriety but was instead made after ongoing consideration and a deliberative process. 

The newly appointed CEO Steve Bennett has also shared his views that Symantec will now be focused more on bringing new products to market that are very oriented toward the mobile world. however, the first thing that Symantec needs to do is sort through the way the market is evolving and then place its chips. 

Let’s hope, Bennett will help the company to gain more market share in next fiscal.