Cybersecurity
CEO Waives Salary and Bonus Forever in Bet on Tech Firm’s Stock
- Ondrej Vlcek takes helm of Avast 14 months after London IPO
- Board approves CEO’s request to cut his annual pay to $1
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Avast Plc’s new chief executive officer and co-owner, Ondrej Vlcek, gave up his salary and bonus forever, signaling to other shareholders his confidence in the technology company that has gained 46% in the past year.
A day after taking the helm of the Prague-based anti-virus software maker, Vlcek “indefinitely” slashed his overall annual pay to $1 and said he would donate his annual board director’s fee of $100,000 to charity, according to a statement from Avast. The CEO now holds 2% of the equity and will continue to be remunerated with shares under the company’s long-term incentive plan.