According to an AP article on Yahoo News, McAfee CEO David DeWalt received a compensation package worth $16 million for the company’s performance in 2008. In contrast to the doom and gloom many other large companies have been reporting for 2008, McAfee increased profit by 3% to $172 million, on a 22% increase in sales. Its total sales for 2008 came in at $1.6 billion.
It seems that sales of McAfee’s security software programs are doing well, despite the economic downturn. We reported a couple weeks ago on how data theft is up in 2008, mostly due to desperate criminals preying on even more desperate victims. It seems consumers have noticed as well and are protecting themselves with security programs from McAfee, Symantec and others. Maybe security software is one industry that will weather this economic storm better than others.
