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McAfee fires Weiss after stock-options probe

Filed in archive Industry by noel on October 15, 2006

McAfee fires Weiss after stock-options probe
mcafeelinks Inc., famed antivirus and security software provider, fired President Kevin Weiss after it found some accounting problems that need financial restatements. Ousting of Weiss was made after a thorough investigation on the matter.

It was also announced by the company that Dale Fuller, a board member, would be the interim CEO and president. The latter will handle the transactions and management of the company while the same is facing such predicament. Fuller was the former CEO and president of Borland Software Corp. Consequently, he became McAfee's board member in January.

The Santa Clara-based McAfee divulged that last June securities regulators made a formal investigation regarding the possible manipulation of the company's stock options. The result of said probes paved way for the ousting of top executives and employees. In view of the vacant positions, McAfee has also created a search subcommittee to choose CEO as well as other employees.


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