Automattic Interim CEO and Legal Chief Signed Reciprocal Severance Deals During Mullenweg's Leave
Mark Davies and Andy Missan approved each other's severance agreements while Matt Mullenweg was temporarily away from the company, according to a TechCrunch report.
Automattic's interim chief executive and its top legal officer signed off on reciprocal severance agreements for one another during a period when founder and chief executive Matt Mullenweg was temporarily away from the company, TechCrunch reported.
According to the report, Mark Davies, who serves as Automattic's chief financial officer and acted as interim CEO during Mullenweg's absence, and Andy Missan, the company's legal chief, each signed the other's severance agreement while Mullenweg was on leave.
TechCrunch reported that the agreements would provide a year of salary and additional equity vesting to either executive if their departure from the company qualifies for the benefits under the terms of the deals.
The report characterized Mullenweg's time away from the company as a brief ouster, though details of the circumstances surrounding his departure and return were not fully specified in the available reporting.
TechCrunch did not immediately provide further detail on the specific triggering conditions required for the severance payouts to take effect, nor on the current status of Davies and Missan at the company.
Automattic, the company behind WordPress.com and other web publishing and business tools, has not issued a public statement addressing the severance agreements as described in the report.
Sources
- Automattic’s interim CEO and legal chief signed reciprocal severance deals during Mullenweg’s brief ouster — TechCrunch
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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