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AVATION PLC — Remuneration Information 2019
Jul 2, 2019
4886_rns_2019-07-02_f90c0917-6d79-41da-a95b-af50b80deff1.html
Remuneration Information
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RNS Number : 1167E
Avast PLC
02 July 2019
AVAST PLC
2 July 2019
Board of Avast approves decision of new CEO to waive salary
Ondrej Vlcek, Avast CEO, has notified the Company's Board of Directors of his intention to indefinitely waive his annual salary and bonus, and instead receive a nominal annual salary of US$ 1. He will continue to receive annual equity grants, as part of Avast's long term incentive plan, calculated as a multiple of his (waived) base salary.
Mr Vlcek has also notified the Board of his intention to donate 100% of his Board director's fee ($100,000 per annum) to charity. The initial recipient will be a UK based charity, Demelza Hospice for Children. All arrangements are effective from the date of Mr Vlcek's appointment to the role of CEO on 1 July 2019.
Ulf Claesson, Chairman of the Remuneration Committee said:
"The Board has reviewed and accepted Mr Vlcek's proposal to waive his annual salary and annual bonus, and is satisfied that he continues to be appropriately incentivised through existing long term equity-based incentive arrangements and through his 2% shareholding in Avast.
We respect and commend his decision, which is a testament to his belief in Avast's long-term value creation potential."
About Avast
Avast (LSE:AVST) is the global leader in digital security products. With over 400 million users online, Avast offers products under the Avast and AVG brands that protect people from threats on the internet and the evolving IoT threat landscape. The company's threat detection network is among the most advanced in the world, using machine learning and artificial intelligence technologies to detect and stop threats in real time. Avast digital security products for Mobile, PC or Mac are top-ranked and certified by VB100, AV-Comparatives, AV-Test, OPSWAT, West Coast Labs and others. Visit: www.avast.com.
Enquiries:
Peter Russell, Director of Investor Relations, [email protected]
Stephanie Kane, VP PR and Corporate Communications, [email protected]
Jos Simson / Lulu Bridges, Tavistock Communications Tel: 020 7920 3150
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