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John McAfee’s first move as a new CEO is to rename the company after himself

TechCrunch TechCrunch 9/05/2016 Fitz Tepper

Some exciting news from the John McAfee camp today: America’s favorite (and most entertaining) cybersecurity expert has a new gig!

MGT Capital Investments, a publicly traded company that owns and operates social gaming apps, has announced the appointment of John McAfee as Executive Chairman and CEO. MGT Capital Investments trades on NYSE’s MKT small-cap exchange, with a market cap of about $10 million.

But best of all? The company said it will be changing its corporate name to John McAfee Global Technologies!

So what does McAfee get out of this? I’m glad you asked! In “exchange” for his new appointment, MGT Capital Investments John McAfee Global Technologies, has entered a definitive asset purchase agreement from D-Vasive, McAfee’s iPhone app that lets you monitor which internal hardware features are being used by different apps.

So, it’s an acqui-hire!

But wait, it gets better! The social gaming startup has also announced that it has entered into a consulting agreement with Future Tense Secure Systems, the cybersecurity company led by none other than…John McAfee!

So a company hired McAfee, renamed the company after him, bought his startup, AND is paying him for consulting services. Okay.

While McAfee’s compensation isn’t being released yet, the company is paying $300,000 and  23.8 million restricted shares of MGT stock (about 47 percent of the total company) to McAfee’s old company, D-Vasive.

While the deal will be subject to customary closing conditions including approval by MGT’s stockholders, something tells me that this isn’t exactly your typical public company with a lot of outstanding stockholders.

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