PracticeConsultingLATEST: Arthur Andersen chief quits

LATEST: Arthur Andersen chief quits

Arthur Andersen chief Jim Wadia has resigned his position as worldwide managing partner following today's ruling by the International Chamber of Commerce.

Wadia has resigned with immediate effect after three years in the post and will be taking eary retirement from the firm.

‘I’m very proud of the progress we have made with our new strategy. We are at a point to head into another period of exceptional growth and development,’ said Wadia.

A spokesperson at the firm told AccountancyAge.com: ‘Jim feels that having led the firm through a successful arbitration, he now wishes to hand on the role to someone who was not involved.’

Former Oversight Committee chairman Louis P Salvatore has been appointed as interim managing partner. New Yorker Salvatore joined Arthur Andersen in 1967 and was admitted to partnership in 1977. Currently he is managing partner in the Big Five firm’s New York offices.

A permanant appointment is expected within 90 days.

Arthur Consulting earlier today claimed victory when Dr Guillermo Gamba, the arbitrator appointed by the International Chamber of Commerce has ruled in its favour.

Links

Date set for Andersens’ divorce announcement

Exclusive: Daggers drawn in Andersens name battle
Andersen Consulting has blasted the chances of it losing its brand name as ‘Arthur Andersen fantasy’ – as both parties wait for the outcome of the arbitration to decide their futures.

EXCLUSIVE: Andersens’ divorce heats up
The Andersens’ divorce took another turn today with Andersen Consulting revealing it has 800 pieces of evidence which it believes show Arthur Andersen has breached a competition agreement.

Accountancy Age exclusive: Andersens civil war to be settled out of court
The bitter divorce battle between Arthur Andersen and Andersen Consulting could be settled out of court as early as next month, Accountancy Age has learned.

Forehand to hold court in Andersens divorce.The bitter divorce battle between Arthur Andersen and Andersen Consulting could be settled out of court as early as next month, Accountancy Age has learned.

Andersen CEO goes
A 27-year veteran of Andersen Consulting has been named as the firm’s new managing partner and CEO. Joe Forehand, who has been a partner for 17 years, succeeds George Shaheen who left in September to join the online grocer Webvan.

Andersen readies split
The two warring factions of Andersen Worldwide have appointed an arbitrator to oversee the firm’s divorce.

Arthur Andersen website

Andersen Consulting news release

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