Despite a decade of vendor promises, the IT industry has largely failed to lessen the percentage of tech budgets dedicated to ‘keeping the lights on’ at the expense of freeing up spend for innovation, Oracle OpenWorld 2011 attendees have heard.
EMC has reported first quarter revenue of $US3.9 billion, along with profits of $373 million, up 92% from the year-ago period.
EMC CEO Joe Tucci was awarded a compensation package valued at $9 million in 2009, according to documents filed this week with the U.S. Securities and Exchange Commission.
EMC has remade its management team by luring a high-ranking executive away from Intel, potentially setting up a succession process to replace chairman and CEO Joe Tucci, who will stay at EMC through 2012.