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10 Things To Watch For From Symantec's Interim CEO Richard Hill

Here's a deep dive into why Symantec CEO Greg Clark left abruptly and how interim CEO Richard Hill plans to address challenges around channel performance, closing deals, and the company's enterprise security pipeline.

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8. Hill First Reached Out To Symantec After Launch Of Internal Probe

Hill reached out to a Symantec board member in May 2018 following the launch of the Audit Committee investigation to offer his assistance. Two months later, activist investor Starboard Value proposed nominating Hill to Symantec's board of directors, and he ultimately joined the company's board in January.

Hill said he started working with Clark and Symantec's board in October 2018 as an adviser, and by early April, Hill was being introduced to Symantec's field organization. Once Clark communicated internally his plan to promptly resign as president and CEO, Hill said the board attempted to see if one of its members could step into the top role while a thorough search was conducted to find a permanent CEO.

Symantec's board selected Hill due in part to his previous experience as interim CEO at Marvell Technology. Hill said his appointment as interim CEO was formally approved Tuesday and publicly announced Thursday.

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7. Hill Has A Track Record Of Finding, Grooming New CEOs

Hill spent nearly two decades as CEO of semiconductor manufacturer Novellus Systems prior to it being acquired by Lam Research for $3.3 billion, and currently sits on the board of several companies, including Marvell and IT distributor Arrow Electronics. He plans to take an active role at Symantec from day one, and said he isn't afraid to "break glass."

"Rest assured, I'm confident and prepared to operate this company without missing a heartbeat," Hill said.

Hill, age 67, said he's very proud of developing current Lam Research CEO Tim Archer into one of the best leaders in the semiconductor capital equipment industry, as well as finding and installing Matt Murphy as a first-time CEO at Marvell Technology.

"I not only can develop horses, but I can pick them as well," Hill said. "So stay tuned."

 
 
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