Symantec Shares Shrug Off CEO Transition

Salem, who was appointed Symantec's COO earlier this year, is nonetheless taking the reins at a difficult time for the company. Like many tech firms, Symantec's stock has tumbled in recent weeks and is trading well below its 52-week high of $22.80.

The company is certainly feeling the effects of the global economic slowdown, and recently warned that sales could be sluggish in the current quarter.

Symantec, which competes with EMC (IBM Quote) and McAfee (MFE Quote), also has had to contend with a recent drop in its business, which coincided with plummeting financial indices.

Thompson, however, will remain involved with the company post-retirement. Even after he hands over the CEO's role, the 59-year old will continue to serve as chairman of Symantec's board.

"It's not like I am walking out of the company," he said.

During his time as CEO, former IBM (IBM Quote) veteran Thompson oversaw Symantec's growth from a small consumer-oriented company to become one of the world's largest security and storage software firms.

Analysts estimate that Symantec will record revenue of $6.17 billion for fiscal 2009, a 4% increase on the prior year.

In recent years, Thompson has also been a vocal supporter of Barack Obama, who is now looking to recruit a high-profile government CTO for his cabinet.

Was Thompson's decision to retire timed to coincide with a possible role in the Obama administration?

"I have never had any political aspirations," replied the executive. "While I have strongly supported Barack Obama, I have always said that my support comes with no strings attached."