New CEO Paul Maritz, formerly of Microsoft, may have just taken the helm of a sinking ship in VMware. CEO Diane Greene was unceremoniously ousted by chairman and CEO of corporate parent EMC Joe Tucci last month, leaving no women navigating any top Valley companies . Her husband, cofounder and fellow sailor Mendel Rosenblum to whom Tucci offered the CEO job and a board seat, has now officially resigned ; product development VP Paul Chan soft-quit and will be gone by October; and VP of R&D Richard Sarwal moved to competitor Oracle last week (where, thanks to a recent California court decision, he does not have to honor any non-compete agreements ).Rosenblum has been on vacation for a month after Greene's firing, possibly to lessen the bad publicity ahead of VMworld 2008 in Las Vegas which starts next Monday — while Microsoft has been busy introducing its own virtualization technologies in a barnstorming campaign this week . My advice to Greene and Rosenblum? Sell those pre-IPO options as soon as you can, because the stock is bound to dip below the initial price sooner rather than later.