Adecco SA's former finance chief has taken responsibility for accounting snafus that delayed its 2003 results and shattered the staffing agency's reputation with investors, a newspaper reported.
"I take all responsibility as CFO and I think it's the right thing to do if something like this happens that the top people take the consequences," former Chief Financial Officer Felix Weber told the New York Times in remarks published on Saturday.
Weber, whose remarks to the same paper earlier this week broke Adecco's stubborn silence after Monday's shock statement on weaknesses in internal controls, stepped down on Thursday along with the head of its North American staffing unit.
"I offered the board my resignation because I take the ultimate responsibility when there are control issues," Weber was quoted as saying.
"In addition to that, my comments (to the paper) led to a certain confusion in the market with consequences for the company."
In his initial remarks - which Adecco refused to confirm or deny - Weber said that everyone "from the CEO to regional management" was responsible for the problems that sent Adecco's stock tumbling as spooked investors rushed for the exit.
Weber could not be reached for comment.
The world's largest staffing agency has lost more than a third of its market value since it warned of accounting problems in a terse statement that sparked fears of a scandal akin to those at Enron, Ahold and Parmalat, where billion-dollar frauds sparked criminal probes.
Adecco has insisted it is operating normally but has refused to detail the potential financial impact scale of the damage or give a new date for releasing 2003 earnings.
Chairman John Bowmer has taken over as executive chairman to clean up its books and restore confidence.
Bowmer, previously the firm's chief executive, will spearhead efforts to resolve the problems in North America, which Adecco said involved IT system security, payroll bank accounts, accounts receivable, revenue recognition, billing errors and a lack of segregation of duties in branches.