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McCarthy Leaves Beazer, CFO Takes Over

June 13, 2011 (Associated Press) NEW YORK - The CEO at Beazer Homes is leaving the company about three months after agreeing to give back $6.5 million in bonuses and profits from the sale of company stock.

Ian McCarthy agreed to return the money that he had accrued during a time when federal regulators say the company was committing accounting fraud. He acknowledged no wrong-doing.

Chief Financial Officer Allan Merrill will take over, the company said Monday, but gave no reason for the change.

Merrill has served as chief financial officer for the last four years.

The Atlanta homebuilder said that Robert Salomon also has been tapped as executive vice president and CFO. Salomon joined Beazer in 2008 as the company's chief accounting officer.

Calls to Beazer weren't answered Monday morning.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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