AVG (OTC:AVGTF) announced that its CEO, J.R. Smith, is to resign from his position. Following the resignation, he will become a member of the company's supervisory board. Meanwhile, he is to remain in the CEO post until a successor is found.
Smith had been at the helm of the anti-virus software company for six years. AVG said it has retained the services of executive search firm SPMB to assist it in the hunt for a new chief executive.
"I am proud of what we've accomplished: substantially growing the customer base, delivering strong financial performance, successfully leading our IPO and building a world class business and management team," said Smith of the company during his tenure.