The CFO of Sirva, a relocation services provider, has apparently decided to relocate himself.
The company announced Friday that J. Michael Kirksey, its CFO and senior vice president, has left to “pursue other interests.” The company did not return a phone call to elaborate.
Kirksey, who was appointed as Sirva’s CFO in 2005, will be replaced temporarily by James J. Bresingham, Sirva’s current executive vice president and chief accounting officer, on an interim basis. Robert W. Tieken, Sirva’s interim CEO, praised Kirksey in a statement for strengthening the company’s internal controls and for bringing its financial reporting up to date.
Sirva’s senior management has been in a state of flux in recent months. Former president and CEO Brian Kelley resigned in March. In April it shrunk the size of its board of directors from 15 members to 10. Sirva shares have fallen by more than 80 percent since January 2005. The company also faced an antitrust investigation by the European Union in 2006, and it delayed filing its annual reports for the past three years.
In a press release issued Friday, Tieken tried to set investors at ease. “The Sirva management team and board of directors continue to be committed to becoming current in our financial reporting,” he said. “In this regard, we remain on track to file our 2006 annual report on Form 10-K on or before June 30, 2007.”
The company has hired an executive search firm to find a replacement for Kirksey.