Another Big 5 Exec Lured To the Internet

Hot on the heels of Andersen Consulting CEO George Shaheen's retirement to head up Internet startup Webvan, Jeffrey Hirschberg today announced his retirement as Vice Chairman of Ernst & Young to become a director of visitalk.com, a web-based telecommunications start up company.

At visitalk, Hirschberg's role will be to help facilitate the company's attempt to build a global directory that allows online voice and video calling. Visitalk plans an IPO by next spring.

What's going on here? Why are top accounting professionals leaving for Internet start ups? The answer is clearly VERY BIG stock potentials. Shaheen's connection with Webvan could yield him a portfolio valued at $100 million. And Hirschberg is young enough to start another career and try his hand at the Internet payoff as well.

The times they are a changin' . . .

You may like these other stories...

More and more businesses are adopting the cloud in order to take advantage of benefits such as greater efficiency, increased productivity and lower costs. Companies in general are flocking to the cloud for email hosting,...
A great way to increase business for your accounting firm is to remain at the front of your clients' minds all throughout the year. One of the best ways to do that is through an email newsletter. Perhaps you send out a...
Cybersecurity is no longer the domain of an organization's IT staff. It's moved to the boardroom, and in a big way. Accountants and financial managers may have been thinking it's just the province of the tech...

Already a member? log in here.

Upcoming CPE Webinars

Oct 9In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards.
Oct 15This webinar presents the requirements of AU-C 600, Audits of Group Financial Statements (Including the Work of Component Auditors).
Oct 21Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience’s communication style.
Oct 23Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.