BearingPoint Inc. / BE

About BearingPoint Inc.

1676 International Dr., McLean, Va. 22102
www.bearingpoint.com | 703-747-3000 | Founded: 1997

Industry: Information Technology | Category: Top 100 Companies

It was a tumultuous year for BearingPoint. After disclosing two accounting errors in late 2004, the company began a thorough review of its financial systems that took more than a year to complete.
In March 2005, Harry L. You, a former Oracle Corp. chief financial officer, signed on as the company's new chief executive, replacing Roderick McGeary, who had been serving as the company's interim leader after the abrupt departure of longtime chief executive Randolph C. Blazer in November 2004.
As the company spent more than $100 million to painstakingly review its financials for 2004, the turnover rate among its employees began to rise. At its peak in the fall of 2004, the annualized turnover rate hit 28 percent.
The delayed financials triggered other headaches for the company, including an investigation by the Securities and Exchange Commission and lawsuits by several shareholders and lenders.
In early February of this year the company reported its 2004 financial results, posting a $546.2 million loss for that year. Its nearly 2,000-page filing with the SEC also included $97.8 million in adjustments to previously announced results for July 2001 to September 2004.
After taking the top spot, You brought on a new management team, including Connie Weaver, who now serves as chief marketing officer, and Judy A. Ethell, the firm's chief accounting officer. The chief financial officer slot, however, remains vacant.
For 2004 the company's revenue totaled $3.38 billion. Its 2005 financial statement has not yet been reported, but You has said he expects BearingPoint to post a "substantial loss" for the year.

President and CEO: Ed Harbach

2007 Financial Data

Total employees: 17,738 | Local employees: 3,823