Former EDS financial officer to retire

Ed Frauenheim
Ed Frauenheim Former Staff Writer, News
Ed Frauenheim covers employment trends, specializing in outsourcing, training and pay issues.

Electronic Data Systems' former CFO Jim Daley is retiring at the end of the month, the company said Wednesday. Daley, 62, currently holds the position of executive vice president of Client Solutions, Global Sales and Marketing at the computer services company. He served as CFO from March 1999 until early this year. His role changed after the drastic earnings shortfall by EDS last September. The U.S. Securities and Exchange Commission launched a probe into the events leading up to the shortfall, as well as into stock-hedging efforts by EDS. Jeff Heller, EDS president and chief operating officer, will assume Daley's responsibilities until a replacement is named.

Daley's imminent departure is part of a broader management shake-up at EDS. In March, EDS replaced CEO Dick Brown with former CBS chief Michael Jordan.