Welded steel pipe company Northwest Pipe on Friday accepted the resignation of its CEO and hired a new one as an internal investigation over accounting issues continues.

Brian Dunham will continue to serve as president and a member of the company's board, the company said.

Replacing him as CEO is Richard Roman, who has been president of private investment company Columbia Ventures Corp. since 2002.

Roman, a board member since 2003, is a member of the board's audit committee. The committee has been leading the internal investigation over accounting matters, including certain revenue recognition practices.

Roman's initial focus as CEO will be to achieve a resolution of the accounting issues, the company said.

The company said hiring Roman will free up Dunham to concentrate on the company's day-to-day operations.