Tuesday, 24 January 2012

CSC management exodus, another one on his way out?

The next senior executive on his way out of CSC could be Andrew Mears, Corporate Vice President of Internal Audit.

Last week, CSC announced Peter Minan, currently a partner with KPMG, as Corporate Vice President of Internal Audit.  There was no mention of Andrew Mears  in the announcement(another 'disappearing'?)  .  This approach is often used by CSC to let people deduce that an executive is leaving the company, which makes us think Mears’ days at CSC may be numbered.

Mears was promoted to head up Corporate Internal Audit after a successful stint as European Controller.  CSC did not replace him as Europe Controller, preferring to reduce costs without regard to the lack of control that losing such a post would mean. Thus one has to assume the removal of this role was approved at the highest levels within CSC.

We have seen the consequences of this ill-considered decision, which is one example of the systemic weakening of CSC’s Finance function in Europe. The Nordic accounting irregularities could not have reached anything close to $100million if there had been a European Controller monitoring unusual balance sheet movements.  But there was no longer any European Controller monitoring the balance sheets. We assume nobody else was looking at them in much depth either, given how large the Nordic irregularities became before CSC realized something was wrong. 

Maybe everyone would have been benefitted if Andrew Mears had never left CSC Europe Finance.

1 comment:

Anonymous said...

Looks like the UK GBS are losing a lot of staff, due to borken promises, lack of direction, lack of leadership, lack of training.. (145 leavers in GBS last month)