Network Associates Announces New Chief Executive Officer.
Security and Availability Solutions Company
Samenuk Named to the Board of Network Associates
SANTA CLARA, Calif., Jan. 3 /PRNewswire/ --
Network Associates, Inc. (Nasdaq: NETA), a leading provider of network security and availability solutions for e-business, announced that its board of directors has appointed George Samenuk as the company's new chief executive officer and president, effective immediately. Samenuk was also named to the Board of Network Associates, Inc. Samenuk most recently served as president and chief executive officer of Tradeout, Inc. Prior to joining Tradeout, Samenuk held several senior management positions with IBM over the course of 22 years.
"George Samenuk is the ideal choice to lead Network Associates. He brings with him a great blend of large company and e-business leadership experience," said Edwin Harper, chairman of Network Associates. "This is an exciting time of transition for Network Associates. While we recognize the challenges we face as an organization, we also see tremendous opportunities to extend our market leadership, strengthen customer relationships and renew shareholder confidence."
"Network Associates is well-positioned to exploit their technology leadership in the anti-virus, security and wireless space," Samenuk said. "Joining Network Associates is an extraordinary opportunity. I look forward to working with the team here to expand our business opportunities, deliver the highest value to our customers and shareholders, and make this an exciting and dynamic place for our employees."
Samenuk served as chief executive officer and president of Tradeout, a privately held global online exchange for business surplus, since January 2000 and was director of that company since March 2000. Prior to joining Tradeout, Samenuk served in various positions at IBM Corporation from 1977 to 1999. As general manager of IBM Americas, he was responsible for all IBM customers in Canada, Latin America and the United States. Prior to this role, Samenuk served as president and general manager of IBM's ASEAN/South Asia Region. He was responsible for sales and support of IBM products in 17 countries. Before that, Samenuk served as a founding executive and general manager of the IBM Global Services division.
In a separate announcement, McAfee.com (Nasdaq: MCAF) announced that Samenuk has been appointed to its board of directors.
In addition to Samenuk's appointment, the Network Associates board has named Terry Davis, the company's corporate controller, as acting chief financial officer of Network Associates, Inc.
For more information, investors, financial analysts, trade analysts and reporters are invited to participate in an audio conference call Thursday, January 4, at 5:30 a.m. PST. The toll free audio conference call dial in number is 888-469-0791. The international dial in number is 312-470-7077. The passcode is NETA. An audio conference recording will be available through January 19, 2001, at 888-562-3870 or 402-530-7623.
About Network Associates
With headquarters in Santa Clara, Calif., Network Associates, Inc. is a leading supplier of security and availability solutions for e-business. Network Associates' five business units -- PGP Security (firewall, intrusion detection and encryption), Sniffer Technologies (network and application management), Magic Solutions (web-based service desk solutions), McAfee (anti-virus), and myCIO.com (security and anti-virus services) -- all produce best-of-breed solutions leveraging core technologies to provide the security and availability needed for e-business. Network Associates is also a majority owner of McAfee.com, one of the world's largest Internet security application service providers. For more information, Network Associates can be reached at 972-308-9960 or on the Internet at http://www.nai.com .
Safe Harbor Statement
The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Those forward-looking statements include, but are not limited to, those regarding the company's opportunities to extend market leadership, strengthen customer relationships and renew shareholder confidence. Actual results could differ materially and are subject to competitive, financial market and other business risks. More information on risks and uncertainties related to the company and its business may be found in the Company's quarterly and annual reports filed with the United States Securities and Exchange Commission.
NOTE: Network Associates, McAfee, PGP, Sniffer, VirusScan, WebShield, NetShield, GroupShield, PrimeSupport and Magic Solutions are registered trademarks of Network Associates and/or its affiliates in the United States and/or other countries. All other registered and unregistered trademarks in this document are the sole property of their respective owners.