EMC reassigns VMware chief - FT.com Paul Maritz, the highly regarded chief executive of the fast-growing software company VMware, has been replaced as part of an executive reshuffle pushed through by its controlling shareholder EMC. The changes will see the former Intel executive Pat Gelsinger take over the reins at VMware, a move that is widely seen as a way to groom him as a candidate for the top job at EMC, the largest independent maker of data storage hardware. Mr Maritz, who also spent his early career at Intel before going to run Microsoft's Windows and server businesses, will take on a new role in charge of strategy at EMC. However, the succession planning by Joe Tucci, EMC's current chief executive, will rob VMware, the world's fourth-biggest software company by stock market value, of a boss who has been widely credited with cementing its position as one of the leading technology suppliers in the new world of cloud computing. EMC's 80 per cent stake in VMware is worth more than $27bn, accounting for almost 60 per cent of its own stock market value. The loss of Mr Maritz follows closely on the recent departure of Mark Peek, VMware chief financial officer, bringing further upheaval to the software company's leadership. "It may be in the best interests of EMC to round out its management team, but is that fair to VMware's minority shareholders?" said Rick Sherlund, a software analyst at Nomura. He called Mr Maritz "a terrific visionary" who had considerable success in his four years at the helm. VMware shares, however, rose 7.3 per cent in after-market trade to $86.11, rebounding from a 4.9 per cent fall before the close in New York following a report that Mr Maritz would leave. EMC shares rose 6.8 per cent to $24.47. Under Mr Maritz, 57, VMware has held off an attack by Microsoft on its core business of "virtualisation" software, which increases the efficiency of data centres by making it possible to run multiple computing tasks on the same server at the same time. It has also widened its product range to become one of the key suppliers of software to automate data centres, putting it at the centre of the cloud computing revolution that is transforming the technology infrastructure on which big companies and governments depend. Mr Tucci recently reversed course after suggesting he would retire this year after turning 65. On Tuesday he said he would stay at EMC "until at least the end of 2013." Along with the appointment of David Goulden, EMC's chief financial officer, as the company's new president, he characterised the changes as a way to build a new management team for the company. "It gives a lot of people new experiences which will also be good for the long haul," he said. Mr Maritz was appointed to run VMware in an earlier overhaul when Mr Tucci determined that Diane Greene, the software company's co-founder, was not suited to running the business as it moved beyond its start-up roots.