Joe Tucci is in no hurry to move into his long-discussed retirement, and the rest of EMC’s board is also reluctant to let him go.
During a week in which the Democratic party worked to convince U.S. voters to give Barack Obama four more years as president, EMC decided to extend Tucci’s contract by nearly as long.
According to a statement EMC filed with the Security and Exchange Commission Thursday, it extended Tucci’s contract through February of 2015. That gives Tucci another two-and-a-half years on the job. Last year he said 2012 would be his last year as EMC CEO, but in January he said he would stay on through the end of 2013 at the request of the board.
After he gives up the CEO job, Tucci plans to remain chairman of EMC and VMware. In July, Tucci said he expected his replacement to come from inside EMC. Two of the main candidates to succeed Tucci were recently promoted. Pat Gelsinger moved from COO of EMC to CEO of its majority-owned VMware, and Dave Goulden added EMC president and COO to his CFO title. Tucci’s extension gives them more time to gain experience in roles that could be seen as try-outs for the EMC CEO job.