Kaspersky Lab Announces Changes to Its Corporate Governance and Appointment of a New Board of Directors

14 Jul 2011
Business News

Kaspersky Lab, a leading developer of secure content and threat management solutions, announces the appointment of a new board of directors following modification of its corporate governance rules to ensure proportional representation of shareholders. The shareholders’ meeting at which the board of directors was nominated took place on June 30, 2011; on July 13 Eugene Kaspersky, CEO and co-founder of Kaspersky Lab, was appointed chairman of the board of directors. In addition, John Bernstein, managing director and head of Europe of General Atlantic, the second-largest shareholder of Kaspersky Lab, has been added to the board of directors.

Commenting on the changes, Eugene Kaspersky said, “The transition to new rules for forming the board, that is, to proportional representation, has been made to better balance the interests of various shareholder groups and is a further step we are making to introduce best practices in corporate governance. This move helps us markedly increase the transparency of the company - for our clients, partners, and investors, and also to better protect the interests of shareholders. In addition, we are pleased to welcome John Bernstein to the board. General Atlantic has unique expertise in partnering with rapidly growing technology companies, which will be a great contribution to the development of the company in the longer term.”

John Bernstein commented, “Kaspersky Lab is growing very rapidly and reaching new heights in the IT security market, resulting from both correct strategic development of the business and the high quality of the company’s management team. We are pleased to be active strategic partners with Kaspersky Lab.”

The board of directors was appointed as follows: Eugene Kaspersky, Chief Executive Officer and co-founder; Eugene Buyakin, Chief Operating Officer; Stephen Orenberg, Chief Sales Officer; Alexey De-Monderik, Chief Technology Advisor; and John Bernstein, General Atlantic LLC Managing Director and Head of Europe.

About Kaspersky Lab

Kaspersky Lab is the largest antivirus company in Europe. It delivers some of the world's most immediate protection against IT security threats, including viruses, spyware, crimeware, hackers, phishing, and spam. The company is ranked among the world's top four vendors of security solutions for endpoint users. Kaspersky Lab products provide superior detection rates and one of the industry's fastest outbreak response times for home users, SMBs, large enterprises and the mobile computing environment. Kaspersky® technology is also used worldwide inside the products and services of the industry's leading IT security solution providers. Learn more at: www.kaspersky.com. For the latest on antivirus, anti-spyware, anti-spam and other IT security issues and trends, visit: www.securelist.com.

About General Atlantic

GENERAL ATLANTIC is a leading global growth equity firm providing capital and strategic support for growth companies. GA combines a collaborative global approach, sector specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. Established in 1980, GA manages approximately $17 billion in capital and has more than 75 investment professionals based in Greenwich, New York, Palo Alto, London, Düsseldorf, Hong Kong, Beijing, Mumbai and São Paulo.

GA invests annually in the $2 billion range, with an average investment size of just over $200 million in 2010. Active in five sectors globally, GA has invested in over 100 companies in the business services & technology industry. Current and prior technology related investments include market leading firms such as Lenovo, the Alibaba Group and SouFun in China; E*Trade, Priceline and Network Solutions in the US; Genpact in India; Mercardo Libre in Latin America; and Markit and Privalia in Europe. For further information and a listing of GA's public and private portfolio companies, see: www.generalatlantic.com.