The Board of Directors at Critical PathFriday announced a series of managerial changes, including the return to management of its chairman and founder, David Hayden, who has been named executive chairman.
“My job is to reaffirm the core vision and values that have made this company great and resolve the issues that have recently come to light,” Hayden said.
The San Francisco-based Critical Path provides of services and software for electronic mail and messaging. The firm has been under legal attack recently from investors who say the company schemed to defraud investors in order to artificially boost its own stock price. At press time, no less than 13 separate class action suits have been filed. Hayden says a special committee of the board has been formed to investigate these issues
In addition to Hayden’s return, Critical Path also announced Doug Hickey, CEO of the company has decided to step down. The board is now searching to recruit a new CEO.
Senior VP of engineering and operations Diana Whitehead will take the reigns as president of the company