Seeking Alpha

Splunk sputters after announcing sales chief is retiring

  • Tom Schodorf, Splunk's (SPLK -7.9%) SVP of field operations since '09, is being replaced by former Cisco marketing exec Doug Merritt. Schodorf, a 30-year tech industry vet, will retire from Splunk at the end of FY15 (ends Jan. '15).
  • Splunk tries to allay fears the move is execution-related by stating it delivered "strong" FQ1 results, but doesn't provide any numbers. Results are due on May 29.
  • Today's announcement comes a day after Splunk unveiled a fresh update for its flagship machine data analysis platform (Splunk Enterprise). Whereas the last update focused on making the product easier for non-IT personnel to use, the latest one provides technical improvements such as multi-site clustering (improves availability) and better support for IBM mainframe datasets. Splunk's Hadoop/NoSQL big data analytics solution (Hunk) has also been updated.
  • Shares are near $48 amid a fresh momentum stock selloff; they're now down 55% from a February high of $106.15.
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