1Symantec 4.0Steve BennettPresident and Chief Executive OfficerMorgan Stanley ConferenceFebruary 27, 2013
Forward Looking Statements2This presentation contains statements regarding our intention to execute a new strategy, implem...
Use of GAAP and Non-GAAP Financial Information3Our results of operations have undergone significant changes due to a serie...
Background and Strategic Implications4Strong Assets No Strategy Siloed Org Poorly RunNew Control Points Keep Emerging…Cust...
Focused on 3 Things… Execution and Change Management5Products andServicesGTM and GlobalStrategyPeople andOrganizationThoug...
Offerings… Making Point Solutions Even BetterNorton 360Norton Mobile SecurityNorton Data ServicesEndpoint ProtectionEnterp...
We Will Deliver New Integrated, Modular OfferingsOver the Next 6-24 MonthsUser Productivity & ProtectionInformation Securi...
Enables authorized users to access corporate resources from any corporate orpersonal mobile device, PC or Mac while protec...
9New Higher-Value Offering: Business ContinuityApplicationsPlatformsStorage• Windows Backup• Unix/Linux Backup• Virtual Ba...
10Provides visibility into, and comprehensive protection from, advancedthreats leveraging Symantec and 3rd-party productsN...
11Applied “Right for GEO” mannerCustomer SegmentCommercialNorton Consumer andSmall BusinessEnterprise• Global & Enterprise...
12• Expanded high quality/lower cost models- Telesales- e-Business- In product• New business growth- Field paid only on ne...
Organization Simplification Initiative13• Addressing spans and layers• 3 waves• Completed by June
Financial Objectives14• Organic growth story• Planning for 5 quarters of transition• Operating margins grow 200 bps next 2...
15Q&A
16Thank You
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Symantec at Morgan Stanley Technology, Media & Telecom Conference

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  • Welcome to the unveiling of Symantec 4.0… this is a day that we’ve been working hard towards and really looking forward toFellow members of the Office of the CEO…Since day 1 I shared that we were starting with a clean sheet of paper and examining all the options about the best way to create shareholder value… outside advisors… all options… in parallel we began a transformation strategy project with a different outside firm… board meeting in early January… decision… 5 and 30 plan is best way to grow shareholder value
  • You’re all aware that we’ll be making several forward looking comments about products and financials through out this presentation.Please refer to our risk and uncertainty comments in our SEC filings.
  • As you know, we refer to both GAAP and Non-GAAP metrics when describing our financial information, so please take a look at our reconciliation statement on the website.
  • Gordon, John and Enrique 1.0, 2.0 and 3.0 built an incredibly strong set of assets we will use as our foundation to solve important customer problems and drive faster organic growth… and I thank them for that.We have deep expertise and capability in both security and information management we can deploy in new ways to solve important customer problems. We will also share some insights on the synergies between these areas given where the market is going and the customer problems we see.Those before me built a portfolio of leading point solution products and services…. leadership in 9 Gartner magic quadrants… DLP is a very critical and fast growing market and our share is larger than the next 3 competitors combined… World leader in backup and availability… protect more than 50% of the world’s information…. We are a little worried about the other halfGreat portfolio of brands, reach and a very large installed base… over 175M Norton customers… a presence in 98% of the Fortune 100 companies… including 93 of the top 100 financial institutions.So with such great assets… why have we been underperforming… in simple terms we lacked clear strategy and operational plan that focused on delivering value to our customersThis is where my background and training at GE and Intuit will help… we need a healthy dose of the strategic and operational rigor from GE plus the customer driven innovation from Intuit.
  • Products and services… Holding company of individual point solutions built primarily from acquisition… while the individual point solutions add a tremendous amount of value to customers… the whole isn’t much better than the sum of the parts and that there was a large opportunity to change that to add a lot of additional value for customersTechnical support GTM and global strategySystem… strategy and processes… despite having a lot of hard working and talented people is not producing high quality resultsHard to do business... lots of complexity… multiple sets of T’s and C’sThought an acted like a US company with global distribution. People and organization… People... working hard and losing... demoralized… talented but not engagedSilo’d management and structure... not a teamInadequate systems and infrastructure Company of promises... or maybe better said of unfulfilled promises When I got off the bench to take this job I believed Symantec had strong assets and lots of opportunities… but was underperforming against the opportunity… I can tell you emphatically that my learning journey confirmed this and the opportunity we have is much bigger than I originally thought Nice tailwindsMarkets are growing strongly and that growth is expected to continueCustomers and partners want and need us to win...Talented and now engaged workforce that wants to be part of transforming Symantec
  • Dramatically simplified and clarified… The biggest change is the addition of a focus on the four vertical markets… markets where we need tailored needs to meet their needsExamples… Telcos or ISP’s around the world want to have a relationship with us that integrates what we do into the service bundle they sell to their consumers and small businesses… in some cases larger enterprise businesses…. Our silo’s of the past structure made that very hard to do… this will make a big difference in strengthening our offerings and focus on these verticals… to better meet their needs and drive faster organic growth…SI’sXAAS…National public sector
  • Key thoughts are… organize the company around the higher order customer jobs and where the puck is going not where it used to beDrive more functional focus, expertise and accountability so we can accelerate our capabilities on the areas that drive organic growth… My judgment is that we couldn’t get the pace of change we needed in a silo’s business unit structureThis is an interdependent organization… where teamwork really matters… that’s my style and that’s the way we are going to run the company… starting in the office of the CEO where we all have complementary skills and are already working very well togetherIn addition to continuing to focus on strengthening our talent and leadership and capabilities that will contribute to improved organic growth… a big priority is to minimize execution risk
  • Key thoughts are… organize the company around the higher order customer jobs and where the puck is going not where it used to beDrive more functional focus, expertise and accountability so we can accelerate our capabilities on the areas that drive organic growth… My judgment is that we couldn’t get the pace of change we needed in a silo’s business unit structureThis is an interdependent organization… where teamwork really matters… that’s my style and that’s the way we are going to run the company… starting in the office of the CEO where we all have complementary skills and are already working very well togetherIn addition to continuing to focus on strengthening our talent and leadership and capabilities that will contribute to improved organic growth… a big priority is to minimize execution risk
  • Symantec at Morgan Stanley Technology, Media & Telecom Conference

    1. 1. 1Symantec 4.0Steve BennettPresident and Chief Executive OfficerMorgan Stanley ConferenceFebruary 27, 2013
    2. 2. Forward Looking Statements2This presentation contains statements regarding our intention to execute a new strategy, implement operational andorganizational changes and our projected financial and business results, as well as our intention to return cash to shareholdersthrough dividends and continued share buyback activity, which may be considered forward‐looking within the meaning of theU.S. federal securities laws. These statements are subject to known and unknown risks, uncertainties and other factors that maycause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied inthis presentation. Such risk factors include those related to: maintaining customer and partner relationships; the anticipatedgrowth of certain market segments, particularly with regard to security and storage; the competitive environment in the softwareindustry; changes to operating systems and product strategy by vendors of operating systems; fluctuations in currency exchangerates; the timing and market acceptance of new product releases and upgrades; the successful development of new products andintegration of acquired businesses; and the degree to which these products and businesses gain market acceptance. Actualresults may differ materially from those contained in the forward‐looking statements in this presentation. Additional informationconcerning these and other risk factors is contained in the Risk Factors section of our Form 10‐K for the year ended March 30,2012 and in our Form 8-K filed on June 11, 2012.Any information regarding pre-release Symantec offerings, future updates or other planned modifications is subject to ongoingevaluation by Symantec and therefore subject to change. This information is provided without warranty of any kind, express orimplied. Customers who purchase Symantec offerings should make their purchase decision based upon features that arecurrently available.We assume no obligation to update any forward‐looking information contained in this presentation.
    3. 3. Use of GAAP and Non-GAAP Financial Information3Our results of operations have undergone significant changes due to a series of acquisitions, the impact of SFAS 123(R),impairment charges and other corporate events. To help our readers understand our past financial performance and our futureresults, we supplement the financial results that we provide in accordance with generally accepted accounting principles, orGAAP, with non‐GAAP financial measures. The method we use to produce non‐GAAP results is not computed according to GAAPand may differ from the methods used by other companies. Our non‐GAAP results are not meant to be considered in isolation oras a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statementsprepared in accordance with GAAP.Our management regularly uses our non‐GAAP financial measures internally to understand, manage and evaluate our businessand make operating decisions. These non‐GAAP measures are among the primary factors management uses in planning for andforecasting future periods. Investors are encouraged to review the reconciliation of our non‐GAAP financial measures to thecomparable GAAP results, which is attached to the financial review presentation, and which can also be found, along with otherfinancial information, on the investor relations page of our website at www.symantec.com/invest.
    4. 4. Background and Strategic Implications4Strong Assets No Strategy Siloed Org Poorly RunNew Control Points Keep Emerging…Customers’ Needs Are Not Being Met
    5. 5. Focused on 3 Things… Execution and Change Management5Products andServicesGTM and GlobalStrategyPeople andOrganizationThoughtful Approach to Changes… Timing Very Important
    6. 6. Offerings… Making Point Solutions Even BetterNorton 360Norton Mobile SecurityNorton Data ServicesEndpoint ProtectionEnterprise MobilityEndpoint EncryptionUser AuthenticationUser Productivity &ProtectionInformation SecurityInformation Management:Availability & Scalability6Managed Security ServicesData Loss PreventionMail and Web SecurityO3Control Compliance SuiteCritical System ProtectionTrust ServicesStorage Foundation HANetBackupEnterprise Vault/eDiscoveryBackup ExecBE.cloudFileStorePortfolio of Leading ProductsPoint Products… Invest Based on OpportunityConsolidate or Divest Assets as Required
    7. 7. We Will Deliver New Integrated, Modular OfferingsOver the Next 6-24 MonthsUser Productivity & ProtectionInformation SecurityInformation Management:Availability & Scalability7New Higher-Value OfferingsMobile Workforce ProductivityNorton ProtectionNorton CloudInformation Security ServiceIdentity/Content-awareSecurity GatewayData Center SecurityBusiness ContinuityIntegrated BackupCloud-based Info ManagementObject Storage Platform
    8. 8. Enables authorized users to access corporate resources from any corporate orpersonal mobile device, PC or Mac while protecting data, applications,devices and identities8New Higher-Value Offering: Mobile Workforce ProductivityEmployee Owned/BYODCorporate OwnedEnterprise ApplicationsCloud Services• Endpoint protection• Corporate• Personal• Mobile device management• Mobile container• Mobile applicationManagement• Enterprise app store• Endpoint encryption• Endpoint DLP• User authenticationIntegratedSolves an important customer problem and builds competitive advantage
    9. 9. 9New Higher-Value Offering: Business ContinuityApplicationsPlatformsStorage• Windows Backup• Unix/Linux Backup• Virtual Backup• Clustering• Virtual HA• Replication• Disaster Recovery• Service OrchestrationIntegratedSolves an important customer problem and builds competitive advantageDelivers high availability, performance, and scalability for businessapplications in virtual, private cloud environments
    10. 10. 10Provides visibility into, and comprehensive protection from, advancedthreats leveraging Symantec and 3rd-party productsNew Higher-Value Offering: Information Security ServiceEnterprise AppsSymantec Security Offerings3rd-Party Products and ToolsSymantec Global SecurityIntelligence Network• Analysis• Correlation• Visibility• Dashboard• Threat Detection• Prioritization andWorkflow• Incident Management• Risk ManagementIntegratedSolves an important customer problem and builds competitive advantage
    11. 11. 11Applied “Right for GEO” mannerCustomer SegmentCommercialNorton Consumer andSmall BusinessEnterprise• Global & Enterprise… Symantec direct + Customer led channelinvolvement• Channel-led… dedicated Symantec team support• Combination of direct through e-business and channel-ledSimplified Go-to-Market (GTM) StrategyGlobal
    12. 12. 12• Expanded high quality/lower cost models- Telesales- e-Business- In product• New business growth- Field paid only on new over time- Separate renewals org• New global sales and partnerenablement organizationNew Marketing and Sales Capabilities• New, enhanced partner program- More selective based on capabilities- Better enablement & Symantec support- New performance-based incentives• Expanded Marketing- Total customer experience- New centers of excellence- Strategic Pricing & LicensingOfferings CustomersBeyondCurrentPointProducts toIntegratedOfferingsBeyondShort-TermBookings toLastingCustomerValue
    13. 13. Organization Simplification Initiative13• Addressing spans and layers• 3 waves• Completed by June
    14. 14. Financial Objectives14• Organic growth story• Planning for 5 quarters of transition• Operating margins grow 200 bps next 2 years• Return cash to shareholders─ Over time, return 50% as a dividend and 50% via buybacks─ Initiating a dividend with a targeted yield of 2.5 % in 1Q14
    15. 15. 15Q&A
    16. 16. 16Thank You

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