BusinessCompany NewsHeads roll over stock option scandal

Heads roll over stock option scandal

Four executives forced out from McAfee and CNet Networks after backadated stock option probe

Four executives of US companies were forced out yesterday following
investigations into the use of backdated stock options.

McAfee, the computer security firm, has sacked its president Kevin Weiss,
and its chief executive George Samenuk stepped down.

Simultaneously, CNet said its chief executive and chairman Shelby Bonnie had
stepped down. CNet’s general counsel and head of human reosurces also stepped
down, the Daily Telegraph reported.

Following his resignation Samenuk said: ‘I regret that some of the stock
option problems occurred on my watch.’

The resignation of Samenuk and the other executives are the latest in a
series of controversies over the alleged back-dating of stock options in the US.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor