Symantec Corp faces an uphill battle to turn around its business and win investo...
- Symantec Corp faces an uphill battle to turn around its business and win investor confidence, analysts said on Friday, after Chief Executive Officer Greg Clark became the fifth top executive in six months to leave the cybersecurity company.
“Investors were desperately hoping to see some stabilization for the current quarter, but what they got instead was a number of negative surprises in the form the company’s CEO heading out and its struggles to grow sales,” Investing.com analyst Haris Anwar said. Symantec also named Vincent Pilette, formerly with Logitech International, as its new chief financial officer, replacing Nicholas Noviello, whose departure was announced in January.
“We believe Symantec is looking toward fiscal 2020 as a fresh start with new management, but the company will be challenged to make up for lost ground in the enterprise space,” Morningstar analyst Mark Cash said.
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