Articles about Joe Tucci

Joe Tucci EMC

Trouble closing the wallet, Joe? EMC boss Tucci's cloudy shares rain $10m

EMC CEO and chairman Joe Tucci has earned himself a cool $10.5m after selling hundreds of thousands of shares in the storage biz. Tucci made $10,583,406.96 from selling 400,000 EMC shares on 30 July and 1 August, according to the SEC Form 4 website, which links to this SEC filing. Tucci's transaction consisted of selling 192, …
Chris Mellor, 05 Aug 2013
Star Trek Into Darkness

EMC II, VMware and the future: Unpicking the house that Joe built

Comment Look guys, the options are pretty limited. If VMware can't leave the EMC Federation and the Federation somehow has to upvalue itself for investors and find shares priced high enough to pay off Elliott Management, then one bit of the Federation has to buy the rest or the Federation has to be acquired/merge with a white knight. …
Chris Mellor, 06 Aug 2015

EMC CEO Joe Tucci tries to win hearts and minds from VC backers

Analysis EMC is going to ask its shareholders whom they support: CEO Joe Tucci or hedge fund exec Paul Singer? At a Wells Fargo investment conference last week, Tucci outlined his thinking about EMC’s recent history, its future and an appeal to shareholders. Paul Singer’s Elliott Management is the activist investor trying to persuade …
Chris Mellor, 18 Nov 2014
VMware logo

Could Joe Tucci's parting shot at EMC be to SELL OFF VMware?

A sharp-eyed industry analyst has spotted that cloudy virtualisation biz VMware's SEC filings mention the words “spin-off”. What's going on here? Aaron Rakers, the MD of analyst house Stifel Nicolaus, picked up the following sentence in VMware’s November 2013 SEC Form 10-Q filing: …that for as long as EMC or its successor-in- …
Chris Mellor, 13 Jan 2014
Joe Tucci EMC

EMC succession: You can't Tucci this

Joe Tucci’s time at the top of the EMC tree is not up for at least another two years, maybe more. Back in 2011/2012 there was a lot of attention paid to who would succeed him at the top of the EMC tree. All that has gone away. Joe Tucci Joe "Isn't life great" Tucci Stifel Nicolaus analyst Aaron Rakers reports on EMC boss Joe …
Chris Mellor, 24 Mar 2014
Joe Tucci EMC

Hey, Joe. Give EMC the gun and SHOOT IT DOWN - before someone else messes 'round town

Comment What should we do about the EMC Federation and the coming retirement of its founder and architect Joe Tucci? Activist investors want it dismantled to provide more value for shareholders. Nobody sees a replacement candidate for Joe Tucci; someone who could hold the ring while the three strong and capable CEOs that run EMC …
Chris Mellor, 23 Oct 2014
Fight sticker

EMC daddy Tucci: YES, there has been too much internal 'friction'

EMC uber-CEO Joe Tucci has admitted that it has been a mistake to allow too much competition inside the federation, which must be music to activist shareholders' ears. The admission came at the Wells Fargo Tech, Media and Telecom Conference in New York last week. Wells Fargo EMC Tucci was asked: "Can you... talk about how you …
Chris Mellor, 17 Nov 2014

EMC's turbulent trifecta temporarily ties Tucci to top table

Comment Succession, transformation and a customer buying pattern sea-change are simultaneously embroiling EMC’s top management and board in a perfect storm, according to CEO Joe Tucci in the quarterly results earnings call. Six months after Joe Tucci’s last – and deferred – retirement date from running the EMC Federation, where he is …
Chris Mellor, 23 Jul 2015
Joe Tucci EMC

Tech starfleet: Will EMC Federation survive a Tucci departure?

Comment Will the tripartite EMC federation set up by Joe Tucci survive his retirement in six months' time? He is the chairman and overall CEO of EMC. The three federated businesses are: EMC Information Infrastructure (EMC II) led by David Goulden who is also overall EMC CFO VMware led by Pat Gelsinger Pivotal led by Paul Maritz Joe …
Chris Mellor, 12 Sep 2014
Crystal ball via

So, Mystic Joe Tucci: Is a hyper-converged tool in EMC's future?

Comment EMC could be getting into hyper-converged systems via VMware and software-defined hardware components, though the storage firm is yet to confirm industry rumours. So far neither the parent company nor virtualisation juggernaut VMware has substantiated reports by CRN on "Project Mystic", supposedly a more converged appliance than …
Chris Mellor, 19 Mar 2014

EMC's hunt for Joe Tucci replacement continues

EMC's CEO succession looks to be in trouble with no clear internal successor to Joe Tucci who is just months away from retirement. Could EMC look outside the company for its next CEO? In January the EMC board invited Joe Tucci to stay on for another year instead of retiring. Why did they do that? There were several prospective …
Chris Mellor, 23 May 2012
Doomsday clock

Federation fracture: EMC's post-Tucci future is either SALE or SPLIT

Comment Winter has come early for EMC, with hordes of barbarian activist investors pounding at the gates as CEO Joe Tucci's long reign comes to an end. Snowdrifts are building up against the boardroom's windows, blotting out the C-suite's previous sunny vista. One immediate example of EMC's fortunes changing is the reported collapse of …
Chris Mellor, 25 Sep 2014

EMC revenues are up. But, hey Joe, I heard you shot your profits down...

EMC sold a record $5.9bn of products and services in its second 2014 quarter, representing a stately five per cent year-on-year increase in sales - and a $400m boost over the first quarter of this year. EMC’s second quarter revenues are generally higher than its first quarter. Net income was $589m, 16 per cent down on profits a …
Chris Mellor, 23 Jul 2014

EMC supremo Joe Tucci to quit as CEO

EMC CEO Joe Tucci, the long-serving boss of the world's largest storage company, has confirmed he will step down by the end of next year. Talking to the WSJ, he said that at the end of 2012, he will become the chairman of the company, but only for two years – while the new CEO beds in, as it were. Tucci said he would do some …
Chris Mellor, 26 Sep 2011

EMC's big kahuna Tucci threatens to cling on until 2015

Joe Tucci, the chairman and CEO of EMC, is staying on at least until 2015, dashing the hopes of company execs who have their eyes on the top job. Joe Tucci, EMC, standing Storage giant EMC filed an 8K form with the US Securities and Exchange Commission that states Tucci will remain the head honcho until at least February 2015. …
Chris Mellor, 10 Sep 2012
Dunce's cap graffiti by cc 2.0 attribution


Analysis There are two big losers from Dell's decision to buy EMC. One is you, because EMC and Dell have signalled that they intend to put EMC products in your face when you buy from Dell. Outgoing EMC CEO Joe Tucci repeatedly said that Dell is the number one reseller for all manner of third party products and suggested EMC will enjoy …
Simon Sharwood, 12 Oct 2015

Gather round, EMC's ol' man Tucci knows Big Data's 'killer app'

Oracle OpenWorld Joe Tucci, EMC boss and non-Oracle oracle speaking at Oracle OpenWorld, said that predictive real-time analysis would be the killer Big Data application. EMC's big kahuna was key-noting on the second day at the event, following on from Larry Ellison's opening session on the first day, where Ellison gloated over Oracle's …
Chris Mellor, 03 Oct 2012
Rob Mee and Paul Maritz

Paul Maritz retires from Pivotal, says his time as a manager is over

Paul Maritz has stepped down as CEO of Pivotal. Maritz is a former VMware CEO and in a storied career can point to having started Microsoft's Windows NT, now Windows Server, business and having a big hand in getting Windows 95 out the door. He's spent the last 15 years in various senior roles at EMC, where he was seen as a …
Simon Sharwood, 19 Aug 2015
Fluffy grey ragdoll cat relaxes next to laptop.

Distribution of cream among EMC executive fat cats revealed

Fancy finding out how much EMC fat cats earn? Read on. Total compensation – meaning share options, salary and bonuses – for the top execs at EMC Information Infrastructure (EMC II) in 2014 looked like this: Joe Tucci (EMC Chairman & CEO) – $11,203,318 David Goulden (EMC II CEO) – $10,531,257 Howard Elias (President & COO …
Chris Mellor, 23 Mar 2015

Cloud rains cash for EMC: VMWare win means Tucci's team can take it easy

EMC did the business in its second calendar 2013 quarter, notching up solid gains in revenues and profits. Revenue was propped up by brisk trade in cloud virtualisation services from VMware and sales of scale-out NAS storage from its Isilon unit. The RSA and Information Intelligences groups slowed EMC down a smidge, however. …
Chris Mellor, 24 Jul 2013

Deja vMware: 'Virty biz to buy its parent EMC' rumor just won't die

Rumors that VMware will buy EMC – which owns 80 per cent of VMware – are back from the dead. And just in time for VMworld 2015, to be held next week in San Francisco. The last time around this particular block, we heard that EMC could buy up the 20 per cent of VMware it didn't own – or VMware could buy EMC in a so-called …
Chris Mellor, 26 Aug 2015
hands waving dollar bills in the air

EMC boss Tucci in lucky escape from poverty

EMC boss Joe Tucci has managed to escape poverty by the skin of 8.2 million teeth; he has just cashed in his stock options for a cool $8.2m. The Boston Business Journal notes that Tucci exercised stock option rights and bought 575,000 EMC shares for $12.85 to $13.18 and then, what a wheeze, sold them at once for $27.46 each, …
Chris Mellor, 26 Jul 2011

Storage slump? Dunno what you're talking about, beams EMC

EMC basically saw off most signs of a storage slump with a two per cent revenue rise in its second quarter 2015, although with revenue being reduced after paying $75m in a VMware pricing settlement with the US government. Revenues of $5.98bn generated profits of $487m, 17 per cent down on profits a year ago, but still well …
Chris Mellor, 22 Jul 2015

Tucci’s terrible dilemma: Unlock EMC value without destroying the Federation

Comment War could break out in EMC's investor ranks any day now as the standstill agreement between EMC's board and activist investor Elliott Management runs out this month. Elliott wants the federation structure or status changed so that hidden investor value inside EMC can be unlocked for investors' benefit. This means the potential …
Chris Mellor, 30 Sep 2015

Federation is golden, says EMC II boss Goulden

David Goulden, CEO of EMC Info Infrastructure, said breaking up the Federation would be the wrong thing to do, while speaking at the Code/Enterprise Series conference in New York on Tuesday. EMC’s Federation includes EMC II, Pivotal, Virtustream and VMware, which are run as semi-independent companies, with VMware having had a …
Chris Mellor, 30 Sep 2015

Activist Elliott gets two seats on the EMC board

EMC - currently under attack by activist investor Elliott Management, which is wanting it to sell off VMware - has granted Elliott two board seats. The EMC board has been expanded from 11 to 13 seats to make room for the two, Jose Almedia (chairman, president and CEO of global healthcare company Covidien), and Donald Carty ( …
Chris Mellor, 12 Jan 2015

How do you solve a problem like Elliott? EMC's got 3 weeks to figure it out

EMC has most of October to answer activist investor Elliott Management's demands for a shareholder value increase through a sell-off of VMware. According to an Elliott leak Reuters report, Elliott, with two directors on EMC's board, hopes the extra time after the expiration of the September standstill agreement will enable EMC …
Chris Mellor, 02 Oct 2015

EMC announces record revenues: But hey, Joe, where're the profits?

Hardware, virtualisation and services giant EMC has announced its first-quarter results for 2013 and while its finances are broadly positive, the devil's in the detail. EMC's revenues for the first quarter of 2013 were a record $5.39 billion - lower than Wall Street's estimates - and its profits were down by a smidge. The mid- …
Chris Mellor, 24 Apr 2013
Toilet roll printed with fake US $100 bills

EMC and Dell considering 'a combination' – report

Update EMC and Dell are considering “a combination”, says The Wall Street Journal. Details of just what's on the table are sketchy. The Journal's referring to the usual folks familiar with the matter. Would some sort of tie-up make sense? Or more sense than the scuppered EMC/HP merger? Dell's storage range isn't as broad or deep as …
Simon Sharwood, 07 Oct 2015

Dell hooking up with EMC and going public again? Come off it

The rumour mill about a Dell-EMC deal is going hyper, with a $51bn takeover by Dell being mentioned. Is Elliott Management holding a gun to EMC's head? EMC is trying to come up with a shareholder value-unlocking deal under pressure from activist investor Elliott Management, which says EMC investors would be better off if …
Chris Mellor, 09 Oct 2015

The incredible IT hulk: Dell + EMC - did someone say 'synergy'?

Analysis So, Dell and EMC have signed a definitive agreement for Dell to buy EMC and maintain VMware as a publicly traded company. Essentially EMC goes private as part of Dell and Elliott Management gets the payoff it wanted. The big eight IT suppliers: Cisco, Dell, Oracle, EMC, HDS, HP, IBM and NetApp, have consolidated to seven with …
Chris Mellor, 12 Oct 2015

HDS storage is faring better than EMC's trad arrays, reckons analyst

Comment HDS storage revenues are declining, but not as much as EMC's core storage business. Joe Tucci's business is doing better in its move to add business outside its trad arrays and HDS is mounting an Internet of Things catch-up, looking to store and analyse the hoped-for IoT data deluge. According to Stifel MD Aaron Rakers, …
Chris Mellor, 03 Aug 2015
Road to SW-defined storage

Cloudfather Tucci meets with EMC clan, analysts to talk strategy

EMC and VMware held their so-called Strategic Forum - aka analysts' day - in New York yesterday with capo di Famiglia Joe Tucci setting out the overall stall and his lieutenants setting out their own strategic imperatives. We saw David Goulden for EMC - now called EMC II - and Pat Gelsinger for the cloud and software-defined- …
Chris Mellor, 18 Mar 2013

Dell buys out EMC in mega-super-duper $67 BEEELLLION deal

Dell has confirmed it is buying storage giant and virtualisation player EMC in a deal valued at $67bn, as we reported earlier today. Privately-owned Dell is scooping up the publicly listed EMC in the industry’s biggest ever tech buyout. The buyout breaks the record established by the $25bn Hewlett-Packard-Compaq deal in 2001 …
Gavin Clarke, 12 Oct 2015

EMC is shopping for Indian startups

EMC has revealed that it's set aside US$2.3 billion for acquisitions, and is tagging the startup sector in India as one target for its shopping expeditions. The company has told India's The Economic Times in India that it has a particular eye for startups in that country. Chirantan Desai, who heads up EMC's emerging technology …
Roughly 150kg of gold

EMC coughs up the readies for cloud management software supplier

EMC is buying Virtustream in a seemingly billion-dollar-level transaction, as part of an effort to build a managed cloud services business. Virtustream sells xStream cloud management software for public, private and hybrid clouds, Infrastructure-as-a-Service (IaaS) and managed services to its customers. It says its xStream …
Chris Mellor, 26 May 2015
EMC federation logo

EMC calls sudden event to reveal 'New business development'

EMC has given US media less than 24 hours notice of an event at which it will announce a “new business development”. The event will take place at 0930, Eastern Time, an hour after the company announces its Q3 earnings. Bloomberg reports the announcement will be Cisco's departure as an active participant in the VCE joint venture …
Simon Sharwood, 21 Oct 2014

David Goulden tosses away CFO cap, holds onto EMC II CEO crown

+Comment EMC Info Infrastructure boss David Goulden has given up the role of CFO for the whole EMC federation, belatedly discovering what most of us know already — being a chief exec is a full-time job. EMC uber-CEO Joe Tucci runs the EMC fed with three subsidiaries: VMware with CEO Pat Gelsinger; Pivotal with Paul Maritz running the …
Chris Mellor, 02 Oct 2014
Joe Tucci EMC

EMC, HP blockbuster 'merger' shocker comes a cropper

+Comment EMC has been holding secret merger talks with HP that have since stalled, according to industry sources. The negotiations are said to have lasted almost 12 months, during which Dell executives mulled buying parts of EMC. But at the heart of the discussion was a proposed $132bn merger of the storage giant and HP, according to …
Chris Mellor, 22 Sep 2014
Joe Tucci EMC

EMC II CEO David Goulden leaves VMware board

David Goulden, chief executive officer of of EMC Information Infrastructure and chief financial officer of EMC, has left VMware's board. Goulden will be replaced by Paul Sagan, a partner executive-in-residence at venture capital outfit General Catalyst Partners. Sagan is also on EMC's board and is a former CEO of Akamai. The …
Simon Sharwood, 08 Apr 2014

EMC reports mixed results, fingers axe: 'Reduction in force' planned

+Comment Storage giant EMC has announced its plans to lay off an unspecified number of staffers in Q1 and said in an SEC filing that it would record restructuring charges in the range of $130m to $150m. In the final few months of last year, EMC increased its revenues by $1bn, quarter on quarter, with Pivotal and VMware growing strongly, …
Chris Mellor, 29 Jan 2015
Top brass at EMC:

Goulden FINALLY bags EMC's storage CEO spot

David Goulden has got the EMC storage CEO job title at last, putting him on a level footing with Paul Maritz, platform-as-a-service outfit Pivotal's CEO, and Pat Gelsinger, VMware's CEO. We're told the 54 year old Goulden is an 11-year EMC veteran, who was EMC’s chief financial officer for seven years and then, when Gelsinger …
Chris Mellor, 09 Jan 2014

Tucci to hang around another year as EMC earnings soar

EMC recorded record revenues and profits for the full year and final quarter of 2011, although Information Intelligence results didn't look so clever. The company sold a massive $20bn worth of products and services last year, an 18 per cent jump on 2010. It earned $2.5bn profit which, to put it in context, is a good deal more …
Chris Mellor, 25 Jan 2012
Iron Throne

EMC: People are going to be FLASHING their RACKS next year

EMC's chief evangelist Chad Sakac got up at an investor conference and said DSSD systems should arrive in limited availability next year. Startup firm DSSD was developing rack-scale all-flash array technology when EMC bought it in May. We'e thinking an EVO: RACK type converged system is coming. Stifel Nicolaus MD Aaron Rakers …
Chris Mellor, 16 Dec 2014

EMC releases yet ANOTHER rack-scale server SAN

EMC's ScaleIO Node is a super-scalable server SAN that presents EMC and its users with interesting product positioning decisions compared to EVO: SDDC (EVO: RACK that was), VxRack, VMAX, VNX, VSAN, and VSPEX Blue. Joe Tucci's company, which wants to reduce internal product competition, says its ScaleIO Node scale-out server …
Chris Mellor, 17 Sep 2015
money notes lifted up

Private equity downs WAN furtler Riverbed in $3.6bn gulp

+Comment WAN optimiser and app speeder Riverbed is being bought by private equity house Thoma Bravo for $3.6bn. Riverbed failed to grow sufficiently and its business foundered somewhat, opening it up to the attentions of activist investor Elliott Management. That's the same investor that is pushing EMC for a VMware sell-off. In October …
Chris Mellor, 15 Dec 2014
VMware VSAN Concept

Loved-up 'frictionless' EMC bods slide ScaleIO into VMware kernel

EMC is going to extend its ScaleIO serverSAN product to function as a VMware kernel module to speed it up, thereby "twinning" it with VSAN in terms of VMware and ESXi integration. There is a new spirit of co-opetition and even co-operation inside the EMC federation these days after its CEO, Joe Tucci, openly admitted there had …
Chris Mellor, 01 Dec 2014
Whiptail XLR8r appliance

Invicta saddles up for another tilt at the 'acceleration' market

After having withdrawn its Invicta all-flash array (AFA) from sale last year, Cisco is trying to crack the AFA market again Cisco bought Whiptail and its Invicta flash array technology for $415 million in 2013, and wants to build it into a $1bn business. However, it withdrew it from sale in September 2014 after scaling problems …
Chris Mellor, 25 Mar 2015

HP to buy EMC? We think so, say Wall St money men

An HP and EMC merger still seems like a fanciful sticking plaster to heal two tech giants, but financial analysts in the US are advising that such a transaction not only looks logical but more likely. Wall St money men spent last week analysing HP’s direction in the corporate enterprise following the Discover event in Las Vegas …
Paul Kunert, 07 Jun 2015

EMC boss Tucci’s last battle: Stopping a forced VMware selloff

Analysis With Joe Tucci, EMC head honcho, set to retire on February next year, the very last thing he wanted was an attack by one of the biggest, baddest activist investors of all: Paul Singer’s Elliott Management. Elliott has communicated to EMC that it has a $1bn investment in its shares and would like VMware spun off so that EMC …
Chris Mellor, 22 Jul 2014