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29-Oct-2020 19:27

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Since 2002, Ashe has led the company's expansion into areas beyond its core business of providing technology news.Meanwhile, Jarl Mohn is now CNet's nonexecutive board chairman, effective immediately."I regret that some of the stock-option problems identified by the special committee occurred on my watch." The changes in the executive suite took place as Mc Afee said it would incur 0 million to 0 million in noncash charges to account for options-related expenses over a 10-year period.In July, Mc Afee said an internal review of options practices determined that financial revisions were likely.The report concluded that co-founder Bonnie, general counsel Sharon Le Duy, and Heather Mc Gaughey, CNet's senior vice president of human resources, "bear varying degrees of responsibility for these deficiencies." The investigation was conducted by a special committee appointed May 22, which subsequently analyzed more than 700,000 documents and e-mails and involved interviewing more than 30 CNet employees.Bonnie on Wednesday resigned as chief executive, effective immediately, but he will stay on as member of the board of directors.

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analyst Youssef Squali believes it "primes the company for a potential acquisition" now that it's addressing the situation.

Additionally, Mc Afee said it will re-state earnings for a 10-year period, a move that is expected to cost between 0m and 0m.

And so to Shelby Bonnie, CEO and co-founder of CNET Networks - the biggest online tech site - today quit his job over misallocations of CNET stock, between "at least" 19.

Le Duy and Mc Gaughey also have resigned, according to a CNet spokeswoman.

Neil Ashe, the company's senior vice president of corporate strategy and development, replaces Bonnie as chief executive.At Mc Afee, George Samenuk, chief executive of security-software maker Mc Afee Inc., announced his retirement from his post on Wednesday. Samenuk was replaced on an interim basis by board member Dale Fuller, who joined the cpany in January.

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