Automattic executives sign mutual severance deals after CEO ouster
Automattic interim CEO and legal chief signed reciprocal severance agreements following the board's vote to place founder Matt Mullenweg on paid leave last week.
Board action triggers executive departures
The company board voted on September 9 to put CEO Matt Mullenweg on paid leave without a public explanation. Matt Mullenweg returned to his role roughly 33 hours after the initial vote was cast. The same board members who approved the leave have since left the organization.
Executives approve each other exits
Interim CEO Mark Davies and Chief Legal Officer Andy Missan signed reciprocal severance packages during Mullenweg's absence. These agreements provide 12 months of base salary paid as a lump sum along with accelerated equity vesting. The combined financial value of these packages totals $8.15 million for both executives.
Automattic's legal department is currently working to determine the implications of these recent executive departures. Mullenweg reportedly fired the two executives upon his return to the company leadership role.
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