A firm has been contracted to look for a new chief executive officer

Mar 8, 2013 09:47 GMT  ·  By

Security solutions provider AVG Technologies has announced that J.R. Smith is no longer the company’s chief executive officer (CEO). However, Smith will not leave the company, instead he will become a member of the Supervisory Board.

AVG has already contracted executive search firm SPMB to find Smith a successor. Until that time, he will remain the CEO.

Both external and internal candidates are being considered for the job.

“During my six years as CEO 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,” Smith said in a statement.

“Having grown the company to this stage, I feel the time is right to turn over the reins. I am looking forward to continuing to contribute as a member of the Supervisory Board knowing that the company is well positioned for future success.”

Dale Fuller, Chairman of the Supervisory Board of AVG, praised Smith’s work.

“J.R. has been a visionary leader for AVG. He transformed the company from a small European antivirus company to a successful publicly traded global leader in PC and mobile solutions/ The board is grateful to J.R. for his leadership and valuable contributions. We look forward to his role as Supervisory Board member,” he said.

Since becoming a publicly traded company, AVG has recorded a constant growth. For instance, in the fourth quarter of 2012, it reported a $95.2 million (72 million EUR) revenue, compared to the same period of 2011 when it reported only $74.3 million (57 million EUR).

The total revenue for 2012 was $356.0 million (273 million EUR), representing a 31% growth compared to 2011. The number of customers has also grown by 38 million in 2012.