McAfee appoints former EMC executive as new CEO
San Francisco: McAfee Inc., maker of security software, has named former EMC Corp. executive Dave DeWalt as its new chief executive and president the company said.
DeWalt, who succeeds interim CEO Dale Fuller, will assume charge on April 2.

DeWalt was earlier executive vice president and president of customer operations at data storage company EMC.

Fuller will serve as an adviser to DeWalt for a time and will retain his seat on the board of McAfee.

George Samenuk, the earlier CEO at McAfee stepped down in October amid an internal review of past stock-option grant practices that began after the company revealed $150 million worth of improperly granted options.

While McAfee is one of many tech companies caught up in the stock options scandal, its former general counsel, Kent Roberts, late last month became the 11th person to be charged with criminal offenses related to options back-dating.
Back to News Review index page  

Takeover bid for Qantas approved by Australian government
The $11 billion takeover bid for Qantas by a consortium called Airline Partners Australia has been approved by the Federal Government according to Treasurer Peter Costello.

Costello said it was now up to the airline's shareholders to accept the $5.60 a share bid from the consortium.

Costello said the government' decision not to oppose the bid was made after receiving a report from the Foreign Investment Review Board and legally enforceable promises made by Qantas to the Government.
Back to News Review index page  

Madame Tussauds museum sold to Merlin
Merlin Entertainments, the leisure group running the Edinburgh Dungeon and Sea Life centre at Loch Lomond, has acquired the Tussauds Group from Dubai International Capital (DIC), a government-backed buyout firm which bought the group for £800 million two years ago. Merlin entered into a £1 billion deal to acquire brands like Madame Tussauds and other attractions including the London Eye and Alton Towers.

The deal will create the world's second largest visitor attraction operator after Disney, said Merlin, owned by private equity firm Blackstone Group.

Under the terms of the deal, DIC will retain a 20 per cent stake in the enlarged company.
Back to News Review index page