Joe Tucci will remain at EMC(s emc) through at least February of 2015, according to an amended employment contract disclosed in a new SEC filing. But, he may not be CEO for that entire time.
In mid-July, Tucci told analysts that he would remain chairman of both VMware and EMC — and CEO of EMC — through the end of 2013. “I’m convinced I still add value,” Tucci said at the time.
“The [EMC] Board anticipates that at some time prior to such date, Mr. Tucci will fully transfer his role as CEO to a successor and become solely Chairman of EMC and Chairman of VMware, Inc.”
Tucci has been chairman of VMware (s vmw) — in which EMC holds an 80 percent stake — since 2007.
This is interesting news for EMC watchers, some of whom don’t expect Tucci, who is 65, to give up the reins of EMC any time soon. Last April, EMC said the board had asked Tucci, to remain on as CEO indefinitely.
Some suspect that one reason for Pat Gelsinger’s move from president of EMC’s information infrastructure products group to CEO of VMware was an acknowledgement that no one expects Tucci to move on any time soon.
When Gelsinger moved to VMware, his predecessor there, Paul Maritz, moved over to EMC as chief strategist.