New CFO at BearingPoint: Kenneth Hiltz

BearingPoint, one of the world’s largest management and technology consulting firms, has appointed a new CFO, Kenneth A. Hiltz.

In October 2008 BearingPoint retained AlixPartners to assist in developing its 2009 plan, participate in its upcoming negotiations to restructure its indebtedness and lead a number of key cash management initiatives. AlixPartners’ managing director Kenneth A. Hiltz has been appointed BearingPoint’s chief financial officer effective yesterday.

Hiltz will replace BearingPoint interim chief financial officer, Eddie Munson, who will continue to serve on BearingPoint’s Board of Directors and resume his duties as a member of the Audit Committee of the Board of Directors.

“We’re pleased to have Ken join the Company and will look to him to help us focus on improved cash management and debt restructuring,” said Harbach.

Hiltz stated, “During the last month, I’ve not only conducted an in-depth review of BearingPoint’s financials, but become heavily engaged in the Company’s 2009 budget and planning process. While it’s too early to make a definitive forecast, I feel very comfortable that we will have enough cash to allow us to work through the next couple of quarters as we focus, almost exclusively, on cash and other balance sheet improvements.”