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.
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.
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