SAN FRANCISCO – E-mail provider Critical Path Inc. on Wednesday named former U.S. Secretary of Defense William S. Cohen to its board of directors as part of the scandalized company’s efforts to rebuild investor confidence.
Cohen, 61, served as secretary of defense during President Clinton’s second term in office. Before joining Clinton’s Cabinet, Cohen spent 24 years representing Maine in the Congress.
Since leaving the Clinton administration, Cohen has been running a business consulting firm with offices in New York and Washington, D.C.
San Francisco-based Critical Path views Cohen’s as another significant step in its efforts to recover an accounting scandal that rocked the company after its former president was caught fabricating revenue in 2000.
The former executive, David A. Thatcher, pleaded guilty to criminal charges of securities fraud and is cooperating with federal authorities in an ongoing investigation into the debacle.
None of the executives under investigation is still with the company, according to Critical Path.
Critical Path’s shares gained 3 cents to close at 91 cents Wednesday on the Nasdaq Stock Market. The company announced Cohen’s appointment after the market closed.
Comments
comments for this post are closed