Enron&#39;s CFO steps down
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HOUSTON The man who became Enron&#39;s chief financial officer a month after the energy giant declared bankruptcy has resigned. An Enron spokeswoman says Raymond Bowen will pursue other professional opportunities.
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Telecom equipment group Ericsson's  chief financial officer has stepped down in the wake of a shock profit warning last week which caused a massive selloff in the company's shares.
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Description: Marsh &amp; McLennan CEO Jeffrey Greenberg steps down, according to a Wall Street Journal online report. Greenberg&#39;s exit comes a little more than a week after his firm was named in a bid-rigging inquiry.
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NEW YORK - Enron Corp. Friday said Chief Financial Officer Raymond Brown resigned to pursue other job opportunities and will be replaced on an interim basis by Robert Bingham.
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Enron Corp. , whose two  top former executives were convicted on Thursday for lying to  investors as the energy giant headed toward bankruptcy in 2001,  said on Thursday it agreed to sell its Prisma Energy  International Inc. subsidiary.
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JP Morgan Chase &amp; Co. on Tuesday shuffled top management at the firm which led to chief financial officer Dina Dublon resigning from the Wall Street giant and investment banking chairman David Coulter being reassigned to control West Coast operations.
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(InfoWorld) - Kenneth Rice, former CEO of Enron Broadband Services (EBS), has been sentenced to 27 months in prison on securities fraud charges and ordered to turn over about $15 million, the U.S. Department of Justice announced Monday. The $15 million will go to victims of the fraud at Enron, the Texas energy company that filed for bankruptcy in December 2001 before investigations revealed widespread accounting fraud. Rice and others at EBS, a unit of Enron, made a series of false statements about the products and business performance in order to mislead investors about the success of the company and inflate the price of Enron's stock, the DOJ said in a press release. Rice was sentenced Monday by Judge Vanessa Gilmore at U.S. District Court for the Southern District of Texas in Houston. Rice pleaded guilty in July 2004 to a securities fraud charge and cooperated with the DOJ's investigation into the collapse of Enron. While serving as CEO at EBS, Rice conspired with others to make false statements about the company's development of various software capabilities and its fiber-optic network, the DOJ said. Rice falsely portrayed EBS as a commercial and business success and falsely claimed that network control software developed by EBS was "up and running," when in fact the software had not progressed beyond the internal development stage. These misrepresentations, including a failure to disclose to the investing public that the company stood to sustain operating losses in 2001, contributed to a sharp rise in Enron's stock price, the DOJ said. EBS entered a number of partnerships before Enron's collapse. In July 2000, Blockbuster announced that it struck an exclusive 20-year partnership with EBS to deliver video on demand by early 2001. Blockbuster began testing the service in February 2001. Kevin Hannon, the former COO at EBS, was sentenced by Gilmore earlier this month to two years in prison, and fined $125,000. Hannon pleaded guilty in August 2004 to conspiracy to commit securities fraud and wire fraud. To date, the federal Enron Task Force has brought criminal charges against 36 defendants, including 25 former Enron employees. Eighteen of those defendants have pleaded guilty or been found guilty after trial. The task force has seized more than $100 million in Enron cases.
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HOUSTON (AP _ A former Enron finance executive says he realized in May 2000 that the company&#39;s purported 1999 barge sale to Merrill Lynch was improper.
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It's the second time this year the disk drive maker has seen its CFO resign.
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(InfoWorld) - A CFO who helped Nortel Networks recover from an accounting scandal and years of poor results is leaving the company after about two years on the job. Peter Currie, also an executive vice president, will leave April 30 to take on unspecified new challenges, according to a Nortel statement. The Brampton, Ontario, company is searching for a replacement. After Currie leaves, he will provide advice and assistance to ensure a smooth transition, the company said. Currie has spent much of his career at Nortel, including as CFO from 1994 to 1997. He returned in February 2005 following a scandal in 2004 that led to financial restatements and the firing of CEO Frank Dunn, CFO Douglas Beatty, and Controller Michael Gollogly. Currie replaced another CFO, William Kerr, who had stepped in after Beatty to complete the restatements. Under current President and CEO Mike Zafirovski, who took the helm in October 2005, Nortel has undergone a major restructuring and several management changes. Zafirovski has tried to focus the wide-ranging company, which faces many strong competitors, most notably Cisco Systems. Last year, Nortel formed a partnership with Microsoft to develop products for IP communications. Currie has steered Nortel through difficult financial issues and improved its corporate governance, Zafirovski said in a written statement. To have a complete facelift, Nortel needs more change in the executive ranks under Zafirovski, said Yankee Group analyst Zeus Kerravala, a long-time Nortel watcher. Customers want a clearer picture of where Nortel will focus its investments, especially now that it's working with Microsoft, he said. "There are a lot questions as to what Nortel looks like five years from now, but even next year," Kerravala said.
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Posted December 22, 2004 - The longtime chief of the nationâs largest mortgage lender stepped down from Fannie Mae late Tuesday in the midst of an investigation into accounting errors that might force a multi-billion-dollar earnings adjustment.
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JEFFREY Greenberg was poised over the weekend to step down as chairman and chief executive of Marsh &amp; McLennan, the firm at the centre of New York Attorney-General Eliot Spitzer&#39;s probe into insurance corruption.
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HOUSTON, Sept. 25 -- Former Enron Corp. finance chief Andrew S. Fastow soon may be headed to prison -- but not without a parting shot at the banks that he says helped the company disguise its financial problems.
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U.S. mortgage finance giant Fannie Mae  confirmed late on Tuesday that embattled Chief Executive Franklin Raines and Chief Financial Officer Timothy Howard were stepping down after accounting errors that are expected to force a massive earnings restatement.
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Enron Corp.&#39;s former director of investor relations has agreed to pay $1.49 million to settle fraud charges related to the bankrupt energy company, US securities regulators said on Wednesday.
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Patrick Ryan, a titan of the insurance industry and fixture of Chicago-area business and civic institutions, revealed plans to step down as chief executive of Aon Corp.
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Northern Rock Chairman Matt Ridley has resigned from his post and will be replaced by Bryan Sanderson.