A power struggle at Micro Warehouse has resulted in chief executive officer Chip Lacy assuming the mantle of chief financial officer too.
Lacy, former CEO of Ingram Micro, replaces Steve Purcell, the former CFO, and Eric Furman, the former chief accounting officer, both of whom resigned with immediate effect. Lacy will recruit replacements.
At the same time Micro Warehouse said it would restate its financial results for the last two years and the first quarter of 1996 because of discrepancies in the figures. These amount to over $45 million, according to US reports.
Lacy was brought into the company to restructure and turn it round, according to an insider at last week?s Comdex exhibition.
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