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Stock Options Scandal Rocks McAfee

Posted by ryuzaki0 on from the no-escaping-that-worm dept.

narramissic writes "ITworld is reporting that in the wake of a stock-options investigation, executive shake-up is under way at security software vendor McAfee, including the firing of the company's president. From the article: 'McAfee announced Wednesday that it has terminated the employment of its president, Kevin Weiss. The company's Chief Executive Officer and Chairman George Samenuk is retiring from those roles and the board of directors has appointed Dale Fuller as interim CEO.'"

2 of 78 comments (clear)

  1. As an ex-McAfee employee by Anonymous Coward · · Score: 1, Interesting
    I have to say a hearty "fuck 'em!" to the senior management. The old saying about the cluetrain stopping there once a week but never making a delivery was never more true.

    Which is not to belittle the programmers, developers, network engineers and other technical types; I met some really outstandingly talented technical people there. Just a shame they were crippled by the top layer of dead wood.

  2. Not the first time... by Anonymous Coward · · Score: 1, Interesting

    http://www.eweek.com/article2/0,1895,1908834,00.as p

    It was just over five years ago that then Network Associates CEO Bill Larson, President Peter Watkins and chief financial officer Prabhat Goyal announced their resignations from the company on the same day that NAI announced a fourth quarter revenue shortfall of $120 million and a new revenue recognition policy for sales through its distributors.

    It sucks, at the time the stock went from around 60 to about 10 overnight. I feel pretty bad for my former co-workers and Im glad I got out when I did. There are alot of really smart people working there that deserve better.