Verisign chief executive and chairman Stratton Sclavos has resigned from the IT security company. William Roper takes over as president and chief executive.
The resignation has prompted a major management shake up of the internet domain registry and SSL certificate company with Edward Mueller appointed as chairman of the company. The company did not divulge the reasons behind Sclavos's departure.
"I am proud of my role in building VeriSign into the great company it has become, and wish all of my associates the very best in the coming years," Sclavos said in a statement.
The departure comes after the announcement that a recent investigation of its stock option grant practices by a group of independent members of its board did not find intentional wrongdoing by any member of senior management. This also included Sclavos himself.
Incoming Roper has served as a director of Verisign since November 2003 and will now become a full-time employee.
"The board remains committed to our strategy, and is pleased with the early results of the restructuring program we began this year," said Roper. "I look forward to working with VeriSign's management team to capitalise on the company's growth opportunities while ensuring the strongest possible emphasis on managerial discipline and execution."
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