Former Andersen saviour could return
Speculation is mounting over who will emerge as interim chief executive officer of beleaguered firm Andersen, following the resignation of Joe Berardino - with partner Lou Salvatore emerging as a frontrunner.
According to sources close to the firm, US-based Salvatore could be set for a repeat of his stay as interim CEO following the firm’s split from Andersen Consulting in 2000, when Jim Wadia resigned.
During his five-month stint, Salvatore ruled himself out of applying for the post full-time. He stepped down when Berardino was chosen to lead the firm in January 2001.
A similar situation may re-emerge, as the firm is eager to make an appointment as soon as possible. It is thought an announcement may emerge following an Andersen Worldwide board meeting set to take place in London next week.
No time has yet been confirmed for the meeting, but speculation is mounting it will take place on Tuesday.
A spokesman for the firm said it was looking to make an announcement as soon as possible, although said an external appointment was unlikely.
Another contender for the interim role is Paul Volcker, former chairman of the Federal Reserve, and who has been hired by Andersen to review its practices.