VMware Inc. VMW,
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.
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
had shot 382.2% and the S&P 500 SPX,
was up 163.8%.