Thursday, August 28, 2014
Inquirer Daily News

CEO departs from CDI Corp.

H. Paulett Eberhart , former CEO of CDI Corp., has left the Center City-based engineering and staffing company.  MICHAEL BRYANT / Staff Photographer
H. Paulett Eberhart , former CEO of CDI Corp., has left the Center City-based engineering and staffing company. MICHAEL BRYANT / Staff Photographer

Having completed her contract, H. Paulett Eberhart, president and chief executive officer of CDI Corp., has left the Center City-based engineering and staffing company. Chief financial officer Robert Larney has become interim president and chief executive, effective March 30.

Eberhart started at CDI in January, 2011; Larney arrived in August 2011.

Revenues and earnings had declined at CDI, falling from just over $1.1 billion in 2012, to $1.09 billion in 2013. Net income fell by a third, to $12.9 million from $19.1 million. The company had been hurt by reductions in government spending, although its oil, gas and chemical business expanded.

The company will pay Eberhart $64,583 a month, until the end of 2014, for consulting, and will award her 20,000 shares of deferred stock if the stock is trading at or above $19.20 a share at that time. Thursday's closing price was $17.23. - Jane M. Von Bergen

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