Tue, 08 Jul 2008 11:11:59 +0000
Ed Sutherland - AHN Editor
New York, NY (AHN) - Diane Greene, the CEO and president of virtualization firm VMWare Inc. resigned Tuesday. As a result, company stock fell 30 percent and VMWare announced 2008 increases would be below its previous target.
Although no reason was given for Greene's departure, the company spun off last August from EMC named former Microsoft employee Paul Maritz to replace the outgoing chief.
Financial analysts have predicted Microsoft's new Hyper-V technology would gain against VMWare in the tight virtualization market. Virtualization, which allows companies to save on buying new hardware by using optimizing processing power, is expected to be worth $11.7 billion by 2011, according to one estimate.
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