Sclavos steps down as VeriSign chief

Longtime VeriSign Inc. chief Stratton Sclavos stepped down as the company’s internal investigation into stock-options grants comes to an end.
The Mountain View, Calif., company declined to offer reasons for the departure of Sclavos, who joined VeriSign 12 years ago. But the firm said the “substantially completed” investigation-which was launched in the wake of a stock-option backdating scandal that has ensnared dozens of technology companies-found no “intentional wrongdoing by any current member of senior management, including Sclavos.”
William Roper Jr., who has served as a VeriSign director since 2003, was tapped to replace Sclavos. The company also scotched an analyst meeting scheduled for next week until an undetermined date.
“Over the last 12 years, (Sclavos) helped establish VeriSign as a global corporation that millions of consumers and businesses rely upon every day as they interact on the world’s voice and data networks,” said Roper. “We wish him continued success in the future.”
Shares of VeriSign slipped on the news, but quickly recovered, gaining 43 cents, or less than 2%, to $27.68.