CEO departs from CDI Corp.
Having completed her contract, H. Paulett Eberhart, president and chief executive officer of CDI Corp., has left the Center City-based engineering and staffing company. Chief financial officer Robert Larney has become interim president and chief executive, effective March 30.
Having completed her contract, H. Paulett Eberhart, president and chief executive officer of CDI Corp., has left the Center City-based engineering and staffing company. Chief financial officer Robert Larney has become interim president and chief executive, effective March 30.
Eberhart started at CDI in January, 2011; Larney arrived in August 2011.
Revenues and earnings had declined at CDI, falling from just over $1.1 billion in 2012, to $1.09 billion in 2013. Net income fell by a third, to $12.9 million from $19.1 million. The company had been hurt by reductions in government spending, although its oil, gas and chemical business expanded.
The company will pay Eberhart $64,583 a month, until the end of 2014, for consulting, and will award her 20,000 shares of deferred stock if the stock is trading at or above $19.20 a share at that time. Thursday's closing price was $17.23. - Jane M. Von Bergen