Joseph Corbett, chief financial officer at consulting firm BearingPoint Inc., resigned this week after just five months on the job.
In a statement, BearingPoint said that Corbett's departure was "through mutual agreement," and that an "aggressive search for his successor is well underway." The company said that Corbett will stay on for a transitional period as a consultant.
BearingPoint named its chief executive, Harry You, as interim CFO.
"Harry and I together decided that the challenges facing BearingPoint require that Harry have a CFO of his own choosing," Corbett said in a statement.
Prior to joining BearingPoint as CEO in March, You served as CFO for Oracle Corp. and Accenture. He has previously held posts at Morgan Stanley, Lehman Brothers and Salomon Brothers.
"I want to thank Joe for his hard work in setting BearingPoint in the right direction to sounder financial reporting and controls," You said in a statement.
Corbett had joined BearingPoint in January from international satellite operator Intelsat Ltd., where he was executive vice president and chief financial officer. He replaced former BearingPoint CFO Robert S. Falcone, who announced in November that he would retire early.
Last month, the troubled consultancy delayed filing its 10-K for fiscal 2004 and said that its quarterly reports for the rest of this year most likely won't be filed on time, either. It also disclosed that the Securities and Exchange Commission launched an informal probe into its accounting practices, and warned that its 2004 financial report might include a going-concern statement by its auditor.
