By Steven Rosenbush
EMC Corp. Chief Executive Joe Tucci told investors on Tuesday
that the company has no plans to spin off its stake in VMware Inc.,
despite the calls of some shareholders.
"We do think our model and the opportunity out there is far
better served if we go together. We are going up against giants,
going up against IBM. I really believe we are more trusted and win
more awards when we are together. That is the plan," Mr. Tucci
said.
"But the board is focused on long-term shareholder value."
Mr. Tucci's comments Tuesday come as EMC is getting pressure
from investors to spin off VMware.
The company told investors that earnings-per-share growth will
expand to double digits by 2018, as six strategic investments in
areas such as Big Data, cloud, and all-flash storage arrays pay
off.
EMC has about an 80% stake in VMware.
Write to Steven Rosenbush at steven.rosenbush@wsj.com
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