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Headquartered in Amsterdam, AVG, one of the first companies that comes to mind when free desktop security is mentioned, say they’re on the hunt for a new CEO. The search for a new CEO is global, and AVG says that the hope is that whoever the new leader will be, they are ready to position AVG for a public offering within the coming years.
AVG hunting for a new CEO.(IMG:AVG)
The current CEO, JR Smith, is credited with AVG’s strong growth for the past two years. According to plans, he will remain an integral part of the business. The Tech Herald asked AVG why it was that Smith was stepping down from the CEO spot, if he has done as well as the press release mentions.
Siobhan MacDermott, Head of Corporate Communications and Investor Relations for the security vendor told us, “AVG has grown exponentially in the past few years. As a result of this growth, AVG is looking for a CEO who can take the company to the next level and has public company experience…The Board feels that we need a CEO who has public company experience - it has nothing to do with JR's success.”
We asked about shortlists for potential CEOs. Were there any? MacDermott told us no, and when asked if there were any discussions about potential prospects, she said, “We can’t comment on this.”
Aside from going public, the new CEO at AVG will need to drive expansion and help the company grow its business in existing markets. “Additionally, AVG will be aggressively expanding into new and emerging markets with both free and paid products. We're always looking for great breakout security technologies to consider folding into our portfolio,” MacDermott commented.
An interesting statement, considering that AVG going public will allow the company some serious cash potential, while not the number one overall security leader, they’ve had no problem expanding in the past as a private company.
So we asked what new markets were standing out? Will AVG be moving into mobile or cloud-based markets? Will they look for more Enterprise or SMB coverage? What breakout technologies are standing out presently?
“We are looking at emerging markets, such as Brazil, India and China. Since we're a consumer and small business focused company, we will continue to drive our focus on those areas. Beyond that I can't really comment,” MacDermott responded.
“The opportunities in the internet security arena are growing exponentially,” said Dale Fuller, board Chairman at AVG. “AVG has enjoyed tremendous growth in recent years and we believe that with the right investments in additional talent, we will be poised to capitalize on growing opportunities in the global market place.”
“JR Smith has done an extraordinary job of bringing AVG to this point and he will continue to be a key player going forward. We are looking for an additional executive leader with public company experience and a proven record in taking a company of our size through the next phases of growth. This individual will enable JR and the executive team to be laser-focused on acquisitions, investments and business relationships that will allow us to move forward, while ensuring that we remain the strong, growing company we are today,” Fuller added.
Smith, who came to Grisoft from a U.K. mobile services provider two years ago, changed the company name to AVG, and helped move the company from a small free software provider to a brand that is used by more than 80 million users worldwide.
“I am very proud to have been able to help AVG achieve record growth and performance over the past two years, which now puts us in a very strong position to take the steps necessary to move our business to the next level,” said Smith in a statement.
“I am excited about the future for AVG, and partnering with a strong leader who can navigate the path ahead of us while allowing me to remain committed to leading the free security space with technology offerings that are unparalleled.”
AVG would make no statements or comments as to when they expect to go public.
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