Peregrine CEO, CFO Resign
Amid concerns of accounting impropriety raised by independent auditor KPMG, Peregrine Systems Inc. CEO and CFO resigned.Amid concerns of accounting impropriety raised by independent auditor KPMG, Peregrine Systems Inc. CEO and CFO resigned Monday morning. Steve Gardner, chairman of the board and CEO, and Matt Glass, CFO, executive vice president of finance and also a director on Peregrines board, relinquished their positions after the audit committee of the board was authorized to conduct an internal investigation into potential accounting inaccuracies.
Peregrines board appointed Rick Nelson as acting CEO, Fred Gerson as action CFO and John Moores as its new chairman. Gerson serves as the CFO of the San Diego Padres while Moores has been a member of Peregrines board since 1989.