Security software house Network Associates Inc announced that Les Denend is stepping down as president for personal reasons, but will remain on the board of directors. Bill Larson, Network Associates’ chief executive officer and chairman, will assume the role of president. Denend says only that he’s looking forward to more personal time. The company is also splitting its stock three-for-two. The 50% stock dividend will be distributed on May 29 to stockholders of record on May 12. Any fractional shares resulting from the dividend will be repurchased by the company at the Nasdaq closing price on May 29. The shares are currently trading at just under $68.50, while the 52-week low was just above $41.
