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Compliance : Sarbanes Oxley : Finance

Global Expert Advisory Firm LECG Names Steven Fife CFO


Fife had served as VP, Finance since May; brings 20+ years experience in financial leadership for public companies.

Steven Fife
CFO
LECG

Global expert services firm LECG (NASDAQ: XPRT) has named Steven Fife, a veteran financial executive with more than 20 years experience in corporate accounting and financial controls for public companies, as the firm’s chief financial officer.

Mr. Fife, 47, had been serving as LECG’s vice president of finance since May, directing financial reporting and accounting for the $400 million expert services and economic advisory-research firm. In becoming CFO, he succeeds Jack Burke, who is transitioning into a new role as LECG’s managing director responsible for emerging practices.

Prior to joining LECG, Mr. Fife was senior corporate controller at Gilead Sciences, a multi-billion dollar life sciences company based in Foster City, CA.

Mr. Fife held senior finance positions at several other major companies. He served for a year as vice president and corporate controller for Chandler, AZ-based Amkor Technologies, a multi-billion dollar semiconductor packager with 18 factories in Asia and the US; at Amkor, Mr. Fife managed a team of more than 200 finance professionals.

And from 2000 to 2004, he held a variety of financial posts at leading Silicon Valley-based fiber optics manufacturer JDS Uniphase, including vice president of operations finance. He joined JDS from predecessor company Optical Coating Laboratory of Santa Rosa, CA, where he spent eight years, rising to director of finance.

Mr. Fife has an accounting and auditing background. He was with Deloitte & Touche for 9 years in its Oakland and San Francisco offices, serving as a senior audit manager for numerous public company clients.

“We are extremely fortunate to have Steve Fife as CFO as Jack Burke steps into a new role developing nascent practice areas for the firm,” said LECG’s Chief Executive Officer Michael Jeffrey.

“Since joining us this May on an interim basis, Steve has shown a full range of financial skills, including a mastery of technical accounting, control and reporting issues,” Mr. Jeffrey added. “He possesses a proven track record in operations, investment strategy, acquisitions, performance metrics and information systems, as well as forecasting and profitability. We look to Steve’s financial leadership in enhancing value and helping us achieve a new level of growth for our business and for our investors.”

Mr. Jeffrey noted that Mr. Burke, who had served as CFO since the beginning of 2003, will turn his focus to helping LECG develop new financial practice areas for possible expansion. “Jack has provided consistent financial leadership to the company – he played a critical role in preparing us for our initial public offering in 2003 and shepherding us through the entire IPO process,” Mr. Jeffrey said. “We look forward to his contributions in his new capacity as managing director.”

Since the start of the year, LECG has been engaged in a value recovery program designed to bolster financial controls and enhance shareholder returns. Among other measures, the firm has reduced operating expenses, implemented a series of new performance metrics, and strengthened its accounting and finance function, including the hiring of Mr. Fife. The firm, which reported a seven percent increase in revenues to $95.3 million in its most recent quarterly results, said it expects to realize continued cost savings in the second half of 2007 and beyond.

Mr. Fife commented on becoming CFO, “In the short time I have been at LECG, I’ve seen a company with an unsurpassed talent base. The firm’s experts and consultants are engaged in the most cutting-edge matters facing businesses and governments worldwide. This is an exciting step for me and I want to ensure that our financial performance mirrors LECG’s reputation as one of the world’s elite economic advisers and expert services firms.”

In recent months, LECG has added a number of prominent names in economics and finance, including Laura D’Andrea Tyson, formerly national economic adviser under President Clinton, and William Isaac, former chair of the Federal Deposit Insurance Corporation. In July, the firm brought on Michael Salinger, recently departed chief economist for the Federal Trade Commission and a leading authority on antitrust issues.

“We expect to continue adding top-flight experts across multiple business segments and will remain on the lookout for acquisitions and new consulting lines that complement our practices and business model, including those that increase our international platform,” Mr. Fife said. LECG has approximately 850 professionals in 33 offices worldwide.

Mr. Fife earned a BS in accounting from Brigham Young University (1983) and is a certified public accountant.

LECG is a global expert services firm with more than 850 experts and professionals in 33 offices around the world. The firm provides independent expert testimony, original authoritative studies, and strategic advisory services to clients including Fortune Global 500 corporations, major law firms, and local, state, and federal governments and agencies. LECG’s experts and professional staff conduct economic and financial analyses to provide objective opinions and advice that help resolve complex disputes and inform legislative, judicial, regulatory, and business decision makers. LECG’s experts are renowned academics, former senior government officials, experienced industry leaders, and seasoned consultants. NASDAQ: XPRT.

For more, visit www.lecg.com


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