VMWare Inc. said President and Chief Executive Diane Greene has resigned, effective immediately, and the company lowered its revenue forecast. Shares of the software maker plunged.
She will be replaced by Microsoft Corp. veteran Paul Maritz, who retired from the software giant in 2000 after 14 years there.
In 2003, Mr. Maritz founded software startup Pi Corp., which creates products to help organize the flow of digital information. The company was acquired by data-storage giant EMC Corp. in February, and Mr. Maritz was named president and general manager of the EMC Cloud Division.