McAfee Fires President

Also, the company's CEO will retire.
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McAfee

(MFE)

fired President Kevin Weiss and said Chairman and Chief Executive George Samenuk will retire in the wake of an investigation into its past option grants.

The security-software maker's board named Dale Fuller interim CEO and president. Fuller, who served for more than six years as CEO and president of

Borland Software

(BORL)

, joined McAfee's board in January.

In addition, the board named Charles Robel, a director since June, as nonexecutive chairman.

"After almost six years at McAfee, I have retired as chairman and CEO in the best interests of the company, its shareholders and employees," Samenuk said in a statement. "I regret that some of the stock option problems identified ... occurred on my watch. I am proud of the accomplishments of the McAfee team in serving our millions of customers during my tenure."

Following the review of its option grants, McAfee determined that it will need to restate some of its past financial results. The McAfee board has appointed a search group to look for a permanent CEO. Internal and external candidates will be considered.