EMC has confirmed a series of top-level changes, and also pre-announced another strong quarter of growth. The company’s stock is up 7% in after hours trading on NYSE.
Q2 looks to have been positive for EMC, although we’ll have to wait for full results next week to get the full picture. Revenues were $5.31bn, up 10% year-on-year. EPS rose by 11%, and the full-year outlook remains in place. So, it’s been yet another strong quarter by the sound of it. EMC continues to benefit from its positioning around hot spending areas including virtualisation, big data and security.
As for the management shuffle, CEO of EMC-owned VMware, Paul Maritz, has not been fired, as some outlets had supposed when rumours of the changes emerged on Monday. Rather, he’s taking on the role of Chief Strategist at EMC, reporting to Chairman and CEO Joe Tucci. Meanwhile, current EMC CFO David Goulden is becoming its President and COO, while Pat Gelsinger of EMC Information Infrastructure Products moves into the vacated CEO role at VMware.
All of which confirms that long-serving Tucci is finally preparing for a well-earned retirement. That said, Tucci also indicated in a call with analysts that he would stick around until at least the end of next year. Whether Maritz or Goulden - or a mixture of the two - is ultimately being lined up to fill his capacious shoes remains unclear.