VMware Inc. VMW,
-6.79%
said Wednesday that it initiated a global search for a new chief executive officer after CEO Pat Gelsinger decided to step down on Feb.12 to open INTC of chip maker Intel Corp. to become.
+ 6.97%
CEO. Gelsinger has been CEO of the enterprise cloud company since September 2012. VMware shares fell 5.6% in morning trade. From the end of September 2012 to Tuesday, the VMware share gained 47.7%, while the SPDR S & P Software & Services ETF XSW
-0.57%
had shot 382.2% and the S&P 500 SPX,
+ 0.23%
was up 163.8%.

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