(Telecompaper) Security software group Symantec has approved a plan to split the company into two independently traded companies, one focused on security and the other on information management (IM). The decision was taken after an extensive review of the company's business and strategy. Symantec said the move will allow each businesses to focus on unique growth opportunities, R&D investments, and go-to-market capabilities, to reduce operational complexity, enhance strategic flexibility, pursue partnerships, and to develop independent M&A strategies. They will also have distinct capital allocation policies. CEO Michael Brown will be the president and CEO of Symantec and Thomas Seifert will continue to serve as CFO. John Gannon will lead the new information management business as GM, with Don Rath as its acting CFO. Gannon served as president and COO of Quantum. Prior to Quantum, he led HP's commercial PC business. Rath joined Symantec in August 2012. The transaction is intended to take the form of a tax-free distribution to Symantec shareholders of 100 percent of the IM business in a new, independent, publicly traded stock. The expected stock distribution ratio will be determined at a future date. The company expects to complete the spinoff by the end of December 2015 and to incur separation and restructuring charges.