BearingPoint Names Harbach CEO

BearingPoint has appointed president and COO Ed Harbach CEO to succeed Harry L. You, the firm said. The company was spun off by KPMG in 2001 and changed its name the following year. You, who had been chief executive since 2005, said he was leaving to pursue other opportunities.

Harbach, 53, has been president and operating chief since January. He previously served as a managing partner and member of the leadership team at Accenture. BearingPoint wouldn't comment on plans for a successor as chief operating chief, according to today’s Wall Street Journal.

BearingPoint Chairman Roderick McGeary said the appointment reflects the board's decision to create value "by intensifying our focus on operations -- and leveraging the full scale and scope of our global business, including continuing to own and operate our European practice as an important part of our consolidated business."

The company yesterday reported a third-quarter net loss of $68 million, or 32 cents a share, compared with a year-earlier net loss of $29.6 million, or 14 cents a share.