PBSJ’s Zumwalt stepping down as CEO
John Zumwalt said he plans to give up the chief executive officer’s role at The PBSJ Corp.
Zumwalt, who also is chairman of the engineering and consulting firm, said in a Jan. 25 letter to shareholders that the company expects a new CEO to be in place by the end of September. Zumwalt said he would continue to serve as CEO until his replacement is found.
Korn/Ferry, an executive search firm, will perform both an internal and external search for candidates under the oversight of the nominating committee of the company’s board, Zumwalt said in his letter, which was first reported by the nonprofit news organization, Broward Bulldog.
PBSJ, an employee-owned firm headquartered in Tampa, has been under scrutiny following a series of what Zumwalt described in his letter as “management crisis,” including a $36 million embezzlement scheme and accusations of violating federal campaign finance laws. Most recently, the company said early results of an internal probe suggested that violations of the Foreign Corrupt Practices Act might have occurred in connection with certain projects undertaken by its PBS&J International Inc. subsidiary.
Zumwalt, who served as president of the international subsidiary until July, said he would focus his attention in the coming months on the strategy growth of the corporation and the strengthening and expansion of its core North American businesses.
Bob Paulsen, vice chairman, will provide day-to-day oversight of the current businesses at the corporate level, as it moves ahead with a streamlined business organization, the letter said.