Verisign CEO Resigns Suddenly

• By theWHIR.com , July 07, 2008

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By Justin Lee, theWHIR.com

July 7, 2008 -- (WEB HOST INDUSTRY REVIEW) -- Internet infrastructure services provider Verisign (verisign.com) announced late last week that CEO Bill Roper has suddenly stepped down from his position as CEO after only one year, sending company shares down 1.3 percent.

Roper has been replaced on an interim basis by company founder and chairman, Jim Bidzos. Verisign said in its statement to shareholders and the media that he had actually quit the position on June 30.

The company has given no explanation for the mysterious departure, but according to the San Jose Mercury News, his decision to leave the company was completely voluntary.

Roper was appointed in May 2007 after former CEO Stratton Sclavos resigned in a similarly abrupt and mysterious fashion. Roper's tenure soon brought an increase in the company's shares by more than 45 percent.

"Over the last year, Bill Roper led the development and implementation of the company's strategy to focus the company on its core businesses," said Bidzos. "He's also improved the company's capital structure with the repurchase of more than 28 percent of the shares outstanding. We appreciate Bill's contributions in implementing this divestiture strategy, which the board and the company are fully committed to continuing."

In May, Australian web hosting provider Melbourne IT acquired VeriSign's global Digital Brand Management Services business for US$50 million.

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