Montvale, N.J. (Jan. 8, 2003) -- David T. Schweitz, president and chief executive of the 67,000-member Institute of Management Accountants, has stepped down from that post.

A successor has not been named. On an interim basis, Paul A. Sharman, a chartered management accountant and international consultant who joined the IMA in late 2003, will assume the executive director’s post.

Sharman told WebCPA that, the new regulatory changes, places a greater focus on “managerial financial professionals,” and said the IMA intends to focus on leveraging opportunity to bring its membership into a new phase of growth and development.

“To me, SOX 404 places the onus on the people who are truly accountable,” Sharman said. “Finally we’ve got some sanity in the world of business –new regulations actually empower the insiders and move the power where it always should have been instead of asking ‘Who’s on first, or ‘Who should be on first?’ There’s no other association that represents the insider or managerial finance the way IMA does.”

Schweitz, who joined the IMA three years ago as executive director, led a series of new business initiatives; most notably, the IMA’s partnership with Holmes Corp. to develop and distribute the IMA CMA Learning System, the first IMA-sponsored CMA review course, which will launch in February 2004. He also helped reduce membership attrition and trimmed overhead costs in a restructuring.

-- WebCPA staff

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