Stories by John Ribeiro and Loek Essers

Symantec president and CEO replaced by company's chairman

Security software vendor Symantec said Wednesday that Enrique Salem, its president and chief executive officer, had stepped down with immediate effect, after the company reported that its revenue for the quarter ended June 29 grew just 1 percent year-over-year to US$1.7 billion, while its profits sagged by 10 percent, falling to $172 million.