Tradeout.com President Named CEO at Network Associates

Network Associates Inc. named George Samenuk chief executive of the computer security software maker, replacing Bill Larson, who said he was leaving last week as the company’s sales lagged forecasts. Samenuk, 45, has been president and CEO of closely held Tradeout.com, which links buyers and sellers of surplus industrial goods. He worked for IBM Corp. for 22 years. Samenuk must revive sales and morale at Network Associates, which has drawn investor lawsuits for failing to live up to expectations. The company’s shares tumbled 61% on Dec. 27 after Larson said the company unexpectedly lost money in its fourth quarter on weak demand for its products. Larson had run Network Associates since 1993. Network Associates shares rose 75 cents to close at $4.94 on Nasdaq. They reached a high of $67.69 in December 1998.