BearingPoint, the US consultancy and outsourcing firm, has appointed Oracle CFO Harry You as its new CEO, in a bid to show its commitment to control and transparency and ward off a potential downgrade from Moody’s. BearingPoint chairman Rod McGeary said You’s background in corporate finance would help the company “to put issues of control and transparency to rest once and for all.”
Moody’s has threatened to cut the company’s debt rating from Baa3 because of slow improvement in profit, limited cash-flow generation and mistakes in its accounting.
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