Concur’s board of directors met over the weekend to review an error in the company biography of Chief Executive Steve Singh, the latest Seattle-area executive targeted by San Diego stock sleuth Barry Minkow.
From 1998 to 2007, Singh’s bio said he graduated from the University of Michigan, but it turns out he didn’t quite finish his degree. The situation was reported March 20 by Bloomberg and then followed by Barron’s (which reported another glitch in the bio of SIngh’s brother, Rajeev Singh, a board member).
Through a spokeswoman, Singh told Bloomberg, “I deeply regret the mistake.”
The board’s response, according to a release issued this morning:
At the conclusion of its meeting, the Board expressed its regret that the mistake occurred, and its complete confidence in Mr. Singh, his abilities, and his proven leadership. The Board also provided guidance to Concur’s management about steps to prevent similar mistakes from occurring in the future.
Apparently investors don’t care either — Concur’s stock is up about 10 percent today.
Minkow’s been poking around the Seattle area. He called out an error at Marchex earlier this month.