VMware's top execs are heading for the door ahead of the $67 billion EMC-Dell merger

On Tuesday, VMware announced its President and COO Carl Eschenbach is leaving the company, marking the second top executive to step down in the past week, and the latest in a series of departures at the company.

Eschenbach will join Sequoia Capital as a partner. VMware didn't announce his replacement.

The news comes just a week after VMware's former senior VP Martin Casado left to join Andreessen Horowitz as a general partner. A month before that, in January, VMware announced its CFO/COO Jonathan Chadwick was leaving the company.

Meanwhile, VMware also promoted four of its top executives to take on broader roles today. Maurizio Carli has been promoted to executive VP of worldwide sales, while Peter McKay will now head up its field sales team in the US.

Ray O'Farrell, the current CTO, will also be in charge of VMware's Global Services and Customer Advocacy group. Sanjay Poonen, the executive VP and general manager of the End-User Computing group, will oversee the company's worldwide marketing and communications group as well.

The management shake-up comes ahead of the proposed $67 billion mega-merger deal between Dell and VMware's parent company EMC, who holds about 80% share in the server virtualization company. Just last week, the deal was approved by US regulators.

VMware is also downsizing with nearly 800 job cuts announced last month. It also gave lowered revenue guidance for 2016 in its latest earnings.