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McAfee ousts CEO and president after options probe |
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by Stan Beer
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Thursday, 12 October 2006 |
Number two security vendor McAfee has seen the departure of its two most senior executives after an options probe revealed a US$150 million irregularity in employee stock-options.
CEO George Samenuk was forced into retirement and
president Kevin Weiss was let go by the company in the wake of the
scandal.
As a result expenses incurred by the granting of stock options over a
10 year period, McAfee has been forced to restate its financial
position with the Security and Exchange Commission, which will now
include up to US$150 million in previously unstated charges.
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