Docs: Automattic interim CEO Mark Davies and CLO Andy Missan signed each other's severance packages worth $8.15M during Matt Mullenweg's brief ouster as CEO (Sarah Perez/TechCrunch)
Last week, on September 9, Automattic's board voted to put CEO Matt Mullenweg on paid leave, a decision the board still hasn't explained publicly.
Automattic's CEO Matt Mullenweg was put on paid leave by the company's board on September 9, a decision that has not been publicly explained. According to TechCrunch, Mullenweg was given only 50 minutes' notice and was denied time to have the resolution reviewed by outside legal counsel. He accused CFO Mark Davies of conspiring with three board members behind his back to force the vote through.
Mullenweg returned to his role roughly 33 hours later, and the same board members who voted him out have since departed the company. During his brief absence, Davies, who became interim CEO, and Chief Legal Officer Andy Missan signed off on generous exit packages for each other, effective September 10. These packages, worth $8.15 million, include 12 months of base salary paid out as a lump sum, accelerated vesting of equity, and another year of health coverage.
The circumstances behind Mullenweg's leave and return remain unclear, with Automattic declining to explain what changed between the initial decision and Mullenweg's return. According to The New Stack, Mullenweg has received support from top executives and Automatticians, with director of communications Megan Fox stating that Mullenweg is the chairman and CEO of Automattic, with full support of the board.
Brief written by urgent.news from Techmeme, The New Stack, TechCrunch — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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