Automattic interim CEO and legal chief sign reciprocal severance agreements during CEO leave

CFO Mark Davies and chief legal officer Andy Missan each signed the other’s severance agreement during a period when Automattic founder and CEO Matt Mullenweg was on leave. The agreements, filed with the company’s internal records, stipulate that both executives will receive a year’s salary and, should their departures meet the defined criteria, additional equity that will vest over the ensuing twelve months.

The reciprocal signing arrangement has drawn attention to Automattic’s executive compensation practices, as the provisions are contingent on the executives’ exits qualifying for the outlined benefits. Company officials have not disclosed further details about the timing or rationale behind the agreements, and no statements have been released regarding any impact on the firm’s operations while Mullenweg remains absent.