CEO Succession

Avast PLC

CEO Succession

Vince Steckler to retire as CEO in 2019

Ondrej Vlcek appointed as successor

Avast (LSE:AVST), the leading global cybersecurity provider, announces today that Vince Steckler has notified the Board of his intention to retire in 2019 after 10 successful years with the Group. He will be succeeded as CEO by Ondrej Vlcek, currently President of the Consumer Business, and Vince's 10-year partner in driving the company's success. 

Vince Steckler will step down from the board and as CEO on 30 June 2019. Mr. Steckler will remain available in an advisory capacity to the company until 30 June 2020 to ensure a smooth transition process. Ondrej Vlcek was unanimously elected and appointed by the Board following a succession process led by the Chairman and the Nomination Committee, with advice from Russell Reynolds, a leading international executive search firm. 

Avast Chairman, John Schwarz, said: "Vince has been the architect of the company's success over 10 years. As Chief Executive, he has guided Avast's tremendous growth, from a company with under $20 million in revenue to over $800 million as reported today. He has also led the Group through a major acquisition and successful IPO. We are grateful for his contribution and commitment to ensure a smooth leadership transition.

I am very pleased to announce Ondrej as his successor, following a review of potential candidates both internally and externally. With a background of more than 20 years of innovation and growth at Avast, Ondrej can lead the business better than anyone."

Ondrej Vlcek has most recently served as President of the Consumer business, the largest unit of Avast. He was part of the executive team that took the company public on the London Stock Exchange in May 2018, and also led the successful integration of the consumer business after the acquisition of AVG in 2016. In this role, he has created dramatic growth through his strategy and vision, re-inventing how Avast protects people online. In his prior role as CTO, Ondrej Vlcek architected Avast's cloud-based security network for the newly announced Internet of Things (IoT) security solutions and led a technology transformation of Avast from a traditional PC antivirus vendor into the leading global provider of AI-based security solutions. Ondrej Vlcek started at Avast in 1995 as a developer and through his ingenuity and passion, has risen through the organisation, making a significant impact on the company's results. He holds an MS in Mathematics from Czech Technical University in Prague.

Vince Steckler said: "I am immensely proud of the business and vibrant culture we have built together. I'm delighted that the board has chosen Ondrej to succeed me. Ondrej's vision and track record of delivery puts him in great stead to lead the company, and I look forward to watching it prosper."

Ondrej Vlcek said: "I'm honoured to have worked alongside Vince and wish him well in his retirement. I feel privileged to lead Avast having seen it grow from a small local player to one of the world's leading cybersecurity companies and am optimistic about what lies ahead for the business. The need for security in our digital lives is more important than ever."

There is nothing further to disclose in relation to the appointment under paragraph 9.6.13 of the FCA Listing Rules.

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.

Contacts

Peter Russell, Director of Investor Relations, ir@avast.com

Stephanie Kane, VP PR & Corporate Communications, mediarelations@avast.com

Tavistock, +44 20 7920 3150

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Person Responsible

The person responsible for arranging the release of this announcement on behalf of Avast PLC is Kelby Barton, General Counsel.