Tetra Tech Inc. said Monday that it had demoted its president, Sam Box, to vice president of risk management in the wake of disclosures last week that Box had inflated his resume with a college degree he hadn't earned.
Pasadena-based Tetra Tech said in a Securities and Exchange Commission filing that the company's chairman and chief executive, Dan Batrack, had assumed the additional role of president as of Friday.
Tetra Tech, which provides consulting and technical services, became aware of the matter after Box's name popped up in a test of new software at the Fraud Discovery Institute, a San Diego-based nonprofit founded by former Los Angeles-area con man Barry Minkow. The software is designed to ferret out irregularities in filings of publicly traded companies that work with the government.
Minkow informed the company that Box's academic credentials were misreported on the company's annual report last November because there no record that he had earned a degree in engineering from the University of California.
According to the annual report, Box, then 62, had been with Tetra Tech since the 2003 acquisition of Foster Wheeler Environmental Corp. He became president in October 2004.
Shares of Tetra Tech were down $1.75, or 9 percent, to $18.38 in morning trading on the Nasdaq.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Tetra Tech President Admits Degree Inflation
- NEWS OF THE WEEK
- Ethical Flap Forces Exit Of President
- Acquisition Binge Reshapes Tetra Tech
- How Two Firms Tackled Scrutiny of Their Stock Options
- Minkow Targeting Supplement Maker
- Herbalife Sued Over Product Safety
- Tetra Tech Recovers and Seeks Contracts in Homeland Security