Mc Afees directors have also named Dale Fuller as the firms interim CEO and president.
Fuller joined the Mc Afee Board in January 2006 and previously served as CEO and president of Borland Software. The executive shakeup comes after an internal investigation into the Mc Afees stock option reporting policies over the past 10 years.
CNET and Mc Afee are just the latest companies to stumble over their options grants.
RYSSDAL: You know, they might be cheap for the company but are these options being granted to these executives in numbers large enough to dilute shareholder value? And that's been a great criticism of them, particularly in Silicon Valley companies where you have such a huge number of options granted that you've effectively diluted the dickens out of everybody else.Weiss had been with Mc Afee since October 2002 and was appointed president of the company in March 2006.