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EMC CEO Says He Wouldn’t ‘Willingly’ Part With VMware Stake

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By Dina Bass

June 1, 2011 at 10:32 PM UTC

This article is for subscribers only.

EMC Corp. Chief Executive Officer and Chairman Joe Tucci said he wouldn’t “willingly” part with the company’s majority stake in software maker VMware Inc., even if a buyer offered a 50 percent premium.

Tucci, who made the remarks at an investment conference in New York, also said he will step down as CEO after 2012, reiterating a plan announced in 2009. He is grooming internal candidates to become CEO as he shifts to a chairman-only role.