Critical Path Reshuffles Management Following Accounting Irregularities

Share this article:
Critical Path Inc., a provider of messaging and e-mail software and services, said it is making sweeping changes to its management that it said will help it to return to its "core vision and values."


The changes come as the company faces numerous class-action lawsuits stemming from its announcement Feb. 2 that its accounting practices "put into question" its fourth-quarter 2000 financial results.


Critical Path said Feb. 9 that CEO Doug Hickey had stepped down and that two executives previously put on administrative leave, president David Thatcher and William Rinehart, vice president of worldwide sales, had been fired. The company also said David Hayden, its chairman and founder, had been named executive chairman.


"My job is to reaffirm the core vision and values that have made this company great and resolve the issues that have recently come to light," Hayden said.


Additionally, Diana Whitehead, senior vice president of engineering and operations, was promoted to president. Lisa Gansky, a director, was named executive director and will take on expanded duties.


Critical Path said earlier this month that it had formed a special committee to look into financial irregularities after it unexpectedly lost $11.5 million in the fourth quarter. The company initially projected that it would attain profitability in the fourth quarter.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

One Third of Americans' Social Media Time Is Spent on Facebook

One Third of Americans' Social Media Time Is ...

Pandora, meanwhile, attracts more user time but far fewer digital advertisng dollars, says a study.

News Corp. Chief Brands Google an 'Unaccountable Bureaucracy'

News Corp. Chief Brands Google an 'Unaccountable Bureaucracy'

Robert Thomson warns the EU that an antitrust deal with Google will lead to a decrease in competitive options for marketers and an increase in piracy.

Video's Going Programmatic, New Study Contends

Video's Going Programmatic, New Study Contends

Some 60% of brands now buy online video programmatically, according to a study from AOL's Adap.TV.