The Internet messaging services provider said Lawrence Reinhold will replace Mark Rubash, who resigned due to a family illness, as its new chief financial officer.
Reinhold formerly served as managing partner at PricewaterhouseCoopers.
Ahead of the announcement, Critical Path (Nasdaq: CPTH) shares closed off $1.06 to $27.94.
The company also reiterated its previous guidance of a slight profit in its fourth quarter and fiscal 2001.
Earlier this quarter, Critical Path told analysts to expect sales of between $300 million to $310 million in fiscal 2001, up 95 percent from fiscal 2000.
First Call Corp. consensus expects it to earn 1 cent a share in its fourth quarter and 40 cents a share in fiscal 2001.
"We are extremely excited to have Larry join the Critical Path leadership team," said CEO Doug Hickey in a prepared release. "We selected Larry for three important criteria: experience managing growth and expanding margins, hands on leadership, and fit within the CP team and the dynamic market opportunity."
Last quarter, Critical Path posted a pro forma loss of 14 cents a share on sales of $44.9 million.
The stock moved as high as $119.50 in March before sliding to a low of $19.38 in November.
All 16 analysts tracking the stock rate it either a "buy" or "strong buy."