Feeds

Monster founder quits over options

Exercises option to keep schtum

Choosing a cloud hosting partner with confidence

Andrew McKelvey has resigned from the board of Monster.com because he refuses to cooperate with an investigation into dodgy stock options.

The recruitment site was recently drawn into an investigation by the Securities and Exchange Commission into backdating of share options.

Earlier this month McKelvey quit as chief executive because he said he was too tired to oversee the investigation. But now he has refused to be interviewed by the committee set up to investigate. He refused to say when he would be available to have a chat.

McKelvey founded Monster and has worked at the company for 39 years.

When he quit as chairman and CEO he said: "I simply can no longer dedicate the number of hours required by Monster's rapid global growth and the additional demands of time associated with the ongoing historical stock option grant review." He also said it would be difficult to leave his daily responsibilities at the firm.

But after just three weeks in his new job as Chairman Emeritus, McKelvey instructed his lawyer to tell the three man executive committee he would not be available for interview.

The statement says: "Mr McKelvey's counsel advised the Special Committee of the Board reviewing stock option grants that Mr McKelvey had declined to be interviewed on the previously scheduled date and would not provide assurance that he would appear at a later date."

Read the press release here. ®

Internet Security Threat Report 2014

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
HBO shocks US pay TV world: We're down with OTT. Netflix says, 'Gee'
This affects every broadcaster, every cable guy
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
French 'terror law' declares WAR on the INTERNET itself, say digi-rights folks
Liberté, Égalité, Fraternité: Two out of three ain't bad
SCREW YOU, EU: BBC rolls out Right To Remember as Google deletes links
Not even Google can withstand the power of Auntie
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.