Feeds

Scandal-hit Peregrine appoints new CFO and auditors

Well, you gotta do something

  • alert
  • submit to reddit

High performance access to file storage

ComputerWire: IT Industry Intelligence

Peregrine Systems Inc has recruited Ken Sexton as CFO and appointed PricewaterhouseCoopers as its accountants in a further bid to bring some stability to the scandal-hit infrastructure management vendor.

The San Diego, California-based company's last CFO left along with the CEO in May after the discovery of "irregularities" over revenue recognition involving as much as $100m in the last two financial years.

New CEO Gary Greenfield knows Sexton well as the two worked together as CEO and CFO of Merant Plc. The appointment is clearly designed to regain the confidence of the investment community and its shares responded by rising 10.8% to $1.02.

PricewaterhouseCoopers is the company's third firm of accountants this year and its first job will be to complete the company's audit. Peregrine replaced Arthur Andersen with KPMG earlier this year in the wake of the Enron scandal, and it was KPMG which uncovered the irregularities in the accounts. However, Peregrine then fired KPMG after it claimed a conflict of interests due to a number of existing contracts with KPMG Consulting.

With the confidence of customers badly jolted, Peregrine said earlier this month that it planned to almost halve its workforce, but claimed that the loss of 1,400 jobs will have a "minimal effect on customers" and the level of support and services it offers.

© ComputerWire

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.