William H. Webster, named only days ago to chair the new Public Company Accounting Oversight Board, stepped down in the wake of the brouhaha enveloping SEC Chairman Harvey Pitt, and his own resignation.
"I regret that Judge William Webster has chosen to resign as chairman," Pitt said in a statement today. "Judge Websters proven integrity would have served the American people well."
Shortly after Pitt named Webster to the position, it came to light that Webster had once served as the chairman of an audit committee of a company now facing accounting fraud scrutiny, and that Pitt withheld this information from the other SEC commissioners.
Meanwhile, three days after Pitt resigned, the chief accountant of the SEC also resigned. The SEC today named Jackson M. Day, deputy chief accountant, as acting chief accountant.