EDS CFO gets to remove 'interim,' 'co' from his title

Ron Vargo removed the 'interim' and 'co' tags from his title to become the permanent chief financial officer at IT services giant EDS.

Electronic Data Systems (EDS) has settled on internal candidate Ron Vargo as its chief financial officer (CFO).

Vargo, 52, has been interim co-CFO at EDS since March with Tom Haubenstricker after the previous CFO Bob Swan quit to join eBay Inc. as the online marketplace operator's chief financial officer. Vargo becomes permanent CFO immediately, the company said Tuesday.

While co-CFOs, Vargo and Haubenstricker kept their other roles at the company as corporate treasurer and vice president of finance administration, respectively.

As EDS searches for a new corporate treasurer, Vargo will continue in that position on an interim basis until a permanent replacement is found. Haubenstricker returns to his role as vice president of finance administration, according to an EDS spokesman.

Before joining EDS in 2004, Vargo was corporate treasurer and vice president of investor relations for automotive supplier TRW.

EDS is still undergoing a major turnaround begun in March 2003 when Michael Jordan was brought on board as chairman and chief executive officer to try and change the company's declining fortunes.

The services provider competes primarily with IBM, Capgemini and Accenture.

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