Strategic Finance

CSC Denmark CEO Resigns

Carsten Lind's departure is one more twist in the company's recent difficulties.

By Rune Pedersen

CSC Denmark's CEO Carsten Lind has resigned, marking another difficult turn for the company hit by industrial actions and an investigation by the U.S. Securities and Exchange Commission.

Lind told Computerworld Denmark "I can confirm that I am resigning but I have no further comment."

According to information obtained by Computerworld, the position will be filled by John Walsh, whose LinkedIn profile lists him as vice president of enforcement, security and intelligence as well as a vice president for CSC in the Washington, D.C., area.

CSC Denmark is the focus of an investigation by the U.S. SEC, over alleged stock manipulation by means of fraudulent financial reporting in the order of DKK 500 million (US$92.8 million). This fraud was allegedly carried out in Denmark by former employees, according to various CSC financial statements.

CSC Denmark was also hit with strikes. The company won a legal dispute over a collective bargaining agreement, but the victory was costly.

In other problems, a senior executive of the Danish Tax and Customs Administration accused CSC of willfully obscuring the truth about a failed IT project. The tax authority is one of CSC's largest public sector customers in Denmark.

CSC Denmark has also been hit with financial problems. All of its Danish subsidiaries lost money for the last five years, causing Lind to say recently that "we, as a company, are facing big challenges that require the full attention of the management."

(Translated by Thomas Bøndergaard.)