Ruettgers Takes Executive Chairman Spot At EMC

Mike Ruettgers, CEO of EMC for nine years, was promoted to executive chairman. Joe Tucci, previously president and COO, was promoted to president and CEO and elected to EMC's board.

With the change in executive leadership, Egan becomes chairman emeritus.

"The two guys at the top of the company took a step up, and I took a step back," Egan said in a statement. "The last time I gave Mike Ruettgers a promotion, it turned out to be a pretty good move. I trust that he will once again exceed my expectations and drive EMC to even greater heights as executive chairman."

In 1988, Ruettgers was recruited by Egan to head EMC's operations and customer service. Four months later, quality problems with third-party hard-disk drives nearly took EMC into bankruptcy. Ruettgers is widely credited with saving the company and turning it instead into the best-performing company on Wall Street during the 1990s.

In a story to be published in Monday's CRN, Ruettgers outlines plans to separate EMC's direct and indirect sales channels.