Sapient CEO, CFO Resign, Co-chair Steps Down Amid Stock Options Probe

Sapient‘s Chief Executive Officer (CEO) and Chief Financial Officer (CFO) have resigned and its co-chairman stepped down amid an internal review of its stock-based compensation practices. Sapient has said it found errors relating to stock option grants, and that it would restate past financial results. The company said financial statements and all earnings relating to periods beginning in January 1997 should not be relied upon. Sapient’s board of directors has named executive vice president Alan J. Herrick to the position of president and chief executive officer. He succeeds former co-chairman and chief executive officer Jerry A. Greenberg, who has resigned from the company and its board.

Read More on:SDA India