Veritas CFO resigns over CV deception


Veritas CFO resigns over CV deception

The chief financial officer of Veritas Software has resigned after it was revealed that he had lied on his CV.

Veritas said that Kenneth Lonchar's claim that he had received an MBA from Stanford University was false.

The information was brought to the company's attention by an independent source outside the company, said Marlena Fernandez, a spokeswoman for the storage software maker.

The company said Lonchar had mis-stated his educational credentials to the company, including the statement about his MBA. Fernandez declined to say whether Lonchar had falsified other information regarding his educational background.

"I regret this mis-statement of my educational background," Lonchar said. "Under the circumstances, I believe my resignation is in the best interests of both the company and myself."

Veritas said Jay Jones, senior vice-president and chief administrative officer and former general counsel, has assumed the role of acting chief financial officer. The company said it expects to announce a new chief financial officer by the end of the year.

"While Ken's mis-statement about his academic credentials is unfortunate, it has no bearing on the accuracy of our financial results or the quality of our financial procedures and controls," said chief executive officer Gary Bloom.

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