Moneycontrol
Last Updated : Mar 13, 2019 01:00 PM IST | Source: Reuters

Avast CEO Vince Steckler to step down; annual results miss expectations

Avast said Vince Steckler plans to retire in 2019 after 10 years in the top job and will be succeeded by Ondrej Vlcek, currently president of the company's consumer business.

Cyber security firm Avast's long-time chief executive officer is stepping down, the company said on March 13 as it reported marginally lower-than-expected adjusted revenue and earnings in its first annual results since listing in May.

Avast said Vince Steckler plans to retire in 2019 after 10 years in the top job and will be succeeded by Ondrej Vlcek, currently president of the company's consumer business.

Adjusted earnings before interest, tax, depreciation and amortization rose 6.7 percent to $447.7 million, in the year ended December 31. Adjusted revenue, excluding discontinued business, rose 9.5 percent to $811.5 million.

Analysts' on average had estimated core earnings of $450.01 million on revenue of $819.16 million, according to Refinitiv Eikon data.
First Published on Mar 13, 2019 12:56 pm
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