An excerpt from additional EMC analysis
Gelsinger is one of a group of high-profile executives who have joined EMC in recent years as the company seeks to reinvigorate itself. EMC shares and growth surged during the Internet expansion of the 1990s. Its stock and profit declined after the dot-com bust. The company purchased virtualization software company VMware Inc. for $635 million in 2004 and sold a stake in the company in an initial share sale in 2007. The market capitalization of VMware is now $39.7 billion.
Besides Gelsinger, EMC has also hired Jeremy Burton, who has worked at Oracle Corp. and Symantec Corp., as chief marketing officer, and Michael Capellas, who was CEO of Compaq, to head a joint venture with Cisco Systems Inc.