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Hewitt Associates’ CFO DeCanniere quits

GLOBAL – Dan DeCanniere, chief financial officer at consulting firm Hewitt Associates, has resigned.

The firm said in a statement that he would remain CFO “until a successor is named, or until the end of the calendar year, to enable an orderly transition of responsibilities”.

The company did not disclose the reasons for the departure. According to a filing at the Securities and Exchange Commission this week, DeCanniere’s salary and bonus target totalled $588,542 (€484,898) in 2004 – hundreds of thousands of dollars below other senior figures in the firm.

Chief executive Dale Gifford’s compensation totalled $1.47m while consulting president Perry Brandorff made $751,000. Outsourcing chief Bryan Doyle’s pay was $845,333.

"Dan was instrumental in assisting Hewitt through several years of strong growth, transitioning from a private partnership to a public company and through our several acquisitions,” Gifford said. “I want to thank Dan for his numerous contributions to Hewitt."

Hewitt said it is now looking for DeCanniere's replacement.

Last month Gifford said the firm’s second-quarter financial results were “clearly disappointing”. Net income slipped to $27.2m from $30.1m a year earlier.

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