VeriSign's CEO Stratton Sclavos has resigned abruptly amid concerns over the company's expansion and acquisition strategy, according to a report in The Wall Street Journal. Board member William Roper will take the reins as CEO, as Stratton exits after 12 years as the company's leader. The company has spent more than $600 million in acquisitions during the past 18 months, an expansion spearheaded by Sclavos. While the company provided no clue as to Sclavos' ouster, reports indicate concerns arose from the board members as to whether VeriSign had lost its focus. The company would only say that VeriSign "can benefit from new leadership." VeriSign repeated previous assurances that a probe into the company's stock-options accounting found on "intentional wrong-doing" by its execs, including Sclavos.
For more on Sclavos' departure:
- read this report from the WSJ (sub. req.)