CEO, President of Troubled Critical Path Step Down

Critical Path Inc., which is investigating its accounting practices after finding possible sales misstatements, said Chief Executive Doug Hickey and President David Thatcher are leaving the e-mail systems provider. Their duties will be filled, in part, by founder and Chairman David Hayden, who was named executive chairman, and Senior Vice President Diana Whitehead, who was promoted to president. The San Francisco-based company said last week it may have “materially misstated” fourth-quarter financial results and discovered “a number of” questionable transactions. The company’s stock collapsed from a 52-week high of $119.50 in March to $10.06 on Feb. 1, after which trading was halted on Nasdaq.