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Business Objects Names CEO

The software company lures Symantec executive John Schwarz.
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Business Objectsundefined named Symantec (SYMC) President John Schwarz as its CEO.

Schwarz will replace founder Bernard Liautaud, who will continue as chairman and take the new role of chief strategy officer.

"I have the unique opportunity to join a company with leading market share and tremendous momentum," said Schwarz. "Throughout my career, I have participated in building high growth, global organizations in the software industry, and I look forward to bringing this experience to Business Objects. The culture of integrity, customer focus, innovation, and action at Business Objects are values I already embrace, and make this a natural fit. My goal is to build on the momentum Business Objects has established and to create one of the world's ten largest software companies."

Symantec said a vice chairman, Gary L. Bloom, will assume responsibility for Symantec's six business units while continuing to lead the antivirus company's corporate development organization. Symantec also said Thomas W. Kendra has been promoted to executive vice president responsible for worldwide sales and services.

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Early Monday, Symantec slipped 33 cents to $22.22 and Business Objects slipped 7 cents to $36.02.