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Symantec says it terminated employment of president and CEO Steve Bennett

NEW YORK, N.Y. - Security software maker Symantec says it terminated President and CEO Steve Bennett's employment and named director Michael Brown as his temporary replacement. Bennett had been president and CEO of the company since July 2012, and Symantec says he resigned from the board of directors after his termination. The Mountain View, Calif., company did not cite a precise reason for Bennett's ouster.

Symantec fires CEO Bennett

By Soham Chatterjee (Reuters) - Antivirus and security software provider Symantec Corp fired Chief Executive Steve Bennett on Thursday, the second time it has sacked its top executive in less than two years, as the company struggles to revive growth amid eroding PC sales. Shares of the company, known for its Norton antivirus software, fell 10 percent in extended trading. Symantec said it appointed board member Michael Brown as interim president and CEO.

Weak PC shipments hit Symantec revenue

By Chandni Doulatramani (Reuters) - Symantec Corp reported a 5 percent fall in quarterly revenue as a decline in sales of personal computers hurt demand for its security software. Shares of the company, the maker of Norton anti-virus software, fell 3 percent after the bell. "We are pleased with the quarter, but we're not happy until we're back into positive revenue growth," Chief Executive Steve Bennett told Reuters on Wednesday.

Symantec forecast falls short of estimates as PC market weakens

(Reuters) - Symantec Corp, maker of Norton anti-virus software, reported lower-than-expected second-quarter revenue and forecast third-quarter results below expectations, hit by low demand for storage and security products and a weak PC market. Symantec shares were down 12.5 percent in extended trading. The company said it expects third-quarter adjusted earnings of 41 cents to 43 cents per share on revenue of $1.63 billion to $1.67 billion.

Mobile security software maker Lookout raises $55 million

BOSTON (Reuters) - Lookout, one of the world's biggest providers of mobile security software, said on Thursday that it has raised $55 million in financing. The round was led by Deutsche Telekom AG. Qualcomm Inc's venture capital arm, Greylock Partners and Mithril Capital Management also participated, as did current investors Accel Partners, Andreessen Horowitz, Index Ventures, and Khosla Ventures.

Trade secrets theft linked to ex-employees: study

A big source of theft of corporate data and trade secrets is former employees of the company, a research report said Wednesday. The survey by the security firm Symantec found that half of employees who left or lost their jobs in the last 12 months kept confidential corporate data, and 40 percent plan to use it in their new jobs. "This means valuable intelligence is falling into the hands of competitors," said Symantec's Robert Hamilton in a blog post accompanying the report.
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