VeriSigning Off: CEO leaves under extremely secret, yet secure conditions


Apparently all it takes is a mysterious departure of a CEO to make a company's shares shoot up almost 3.5%, as VeriSign (VRSN) is surging on news of Stratton Sclavos' resignation as CEO after 12 years. No one, aside from a secret cabal of VeriSigners knows why Sclavos bolted, but analysts speculate that the main internal squabbles regarded a lack of new talent and lackluster returns from VeriSign's aggressive acquisition platform. Former Science Applications International Corporation CFO William Roper Jr. was appointed to succeed Sclavos.
VeriSign is restating its financials from 2001-2006 and expected to take at least a $250mm hit from dodgy options dealing, but there is no official word on whether this had anything to do with the CEO shuffle.
VeriSign’s Chief Executive Resigns Abruptly [New York Times]