McLean, Virginia-based BearingPoint said it had eliminated the management positions of group executive VP Bradley Schwartz, group executive and COO Michael Donahue, and executive VP and chief administrative officer Nathan Peck, effective immediately. The company said it would take a one-time charge in the first quarter of 2005 to cover severance charges.
At the same time, BearingPoint appointed Richard J Roberts, public services EVP, as its new COO, reporting to the recently appointed CEO Rod McGeary. Meanwhile, Robin Lineberger, federal government and commercial healthcare services EVP, will assume to role of EVP for public services.
McGeary said in a statement: This strategy will result in an organizational structure that provides more accountability for the BearingPoint executives who are running our business units and fewer layers between the CEO and our teams serving clients in the marketplace.
These are the latest of several management changes at BearingPoint. Earlier this month, it created a new position of chief risk officer for Ron Salluzzo, the former EVP of BearingPoint’s state and local government and education practice, and prior to this in January, the company appointed Joe Corbett, the former Intelsat finance chief as its new CFO.
In November 2004, BearingPoint announced the resignation of its CFO Bob Falcone, and uncovered a $92.9m accounting error on its third-quarter balance sheet. BearingPoint said his departure did not relate to the accounting mistake that saw an asset being classified incorrectly. Falcone’s departure came within one week of the departure of former chief executive Rand Blazer.
