AVG Appoints Martin Wheatcroft As SVP, Finance And Group Financial Controller

AVG Technologies N.V. (NYSE: AVG), the provider of Internet and mobile security to 143 million active users, today announced the appointment of Martin Wheatcroft as Senior Vice President, Finance and Group Financial Controller, reporting to John Little, Chief Financial Officer, effective immediately. Based out of AVG’s corporate office in Amsterdam, Mr. Wheatcroft will manage the company’s global financial operations.

“With his more than twenty years of international experience working in finance, both public and private companies, Martin Wheatcroft brings to AVG extensive global management, diverse industry experience and a strong understanding of markets and business and financial dynamics,” said John Little, AVG’s CFO. “As a highly talented financial leader, Martin will be a strong addition to our business as we continue to expand into new markets.”

Wheatcroft joins AVG from National Grid plc, a £25 billion market cap UK and US based electricity and gas utility with listings in both London and New York. Until recently he lead the accounting function for the $12 billion US business, including regulated electric and gas utilities in New York City, Long Island, upstate New York, Rhode Island, Massachusetts and New Hampshire.

“I am looking forward to working with such a rapidly growing business in such a dynamic industry as it continues to grow from strength to strength. As the business carries on expanding into different segments and geographies, there are ambitious commercial and financial goals that need to be met,” said Wheatcroft.

Forward-Looking Statements

This press release contains forward-looking statements within the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “outlook”, “expectation,” “intends,” “assumes,” “believes” and “estimates,” variations of such words and similar expressions are also intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated herein. Factors that could cause or contribute to such differences include but are not limited to: changes in the company’s growth strategies; changes in the company’s future prospects, business development, results of operations and financial condition; changes to the online and computer threat environment and the endpoint security industry; competition from local and international companies, new entrants in the market and changes to the competitive landscape; the adoption of new, or changes to existing, laws and regulations; flaws in the assumptions underlying the calculation of the number of the company’s active users; the termination of or changes to the company’s relationships with its partners, including Google, and other third parties; changes in the company’s and its partners’ responses to privacy concerns; the ability of the company to successfully diversify its portfolio of search partners; the company’s plans to launch new products and online services and monetize its full user base; the company’s ability to attract and retain active and subscription users; the company’s ability to retain key personnel and attract new talent; the company’s ability to adequately protect its intellectual property; flaws in the company’s internal controls or IT systems; the company’s geographic expansion plans; the anticipated costs and benefits of the company’s acquisitions; the outcome of ongoing or any future litigation or arbitration, including litigation or arbitration relating to intellectual property rights; the company’s legal and regulatory compliance efforts; and worldwide economic conditions and their impact on demand for the company’s products and services. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements.

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