BearingPoint Gets New COO, Ed Harbach

We notice that BearingPoint (NYSE: BE) has recently appointed a new President and COO, Ed Harbach, reporting to Harry You, CEO. Interestingly Ed Harbach also comes from Accenture, we believe where Harry You also spent some time as CFO. He is being awarded around 900,000 restricted stock units to vest over four years. BE stock has been flat recently, so if things turn around, there can be good upside for Mr. Harbach.

Here is the official release from BearingPoint


BearingPoint Appoints Ed Harbach as President and Chief Operating Officer

McLean, Va. (Jan. 9, 2006) – BearingPoint announced today that it has appointed Ed Harbach as president and chief operating officer and a member of the Office of the CEO. Mr. Harbach will be responsible for day-to-day operations across BearingPoint, with operational oversight of its business units. Mr. Harbach has more than 28 years of experience in the management and technology consulting industry and retired as a managing partner and member of the leadership team at Accenture. During his tenure at Accenture, Mr. Harbach served as chief information officer, managing partner, Japan and managing partner, Client Satisfaction and Quality.

“With his proven ability to tackle operational challenges, drive business results and increase client satisfaction, Ed will be instrumental in helping us make the final push on our business turnaround and execute our strategy for long-term growth,” stated Harry You, CEO of BearingPoint.

Mr. Harbach said, “I am thrilled to join BearingPoint, a company known for its exceptional people and commitment to client success. I look forward to leading the organization to greater operational efficiency so that its momentum continues to build.”

Mr. Harbach graduated from Miami University with a Bachelor of Science degree in Systems Analysis and currently resides in Miami, Fla. with his wife.

In connection with Mr. Harbach’s employment, the BearingPoint’s independent compensation committee approved an award of 888,325 restricted stock units, which vest ratably over four years.