CA Names Interim CEOBy Chris Gonsalves | Posted 2004-04-26 Email Print
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Computer Associates International Inc. named independent board member Kenneth Cron to the interim CEO spot vacated late last week by the demotion of former CEO and Chairman Sanjay Kumar.
Computer Associates International Inc. made it official this morning, naming independent board member Kenneth Cron to the interim CEO spot vacated late last week by the demotion of former CEO and Chairman Sanjay Kumar.
The move is part of a mini-shake-up in the midst of scandal-driven turmoil that has roiled the Islandia, N.Y., software maker for months. CA's board chairman Lewis Ranieri also named Jeff Clarke to the chief operating officer spot. Clarke in turn said CA insider Greg Corgan will take over as senior vice president of sales replacing Stephen Richards, who has resigned.
In addition to the personnel changes, CA officials also said they have completed their internal audit, one of three investigations into accounting practices at the firm. Internal auditors found that $2.2 billion was booked prematurely in FY2000 and 2001. The audit committee said the restatement would have no effect on financial results for FY2002, 2003 or the first three quarters of 2004.
Cron, 47, joined the CA board in 2002 and was formerly the CEO of Vivendi Universal Games. Clarke, 42, was the chief financial officer at Compaq Comupter Corp. during its merger with Hewlett Packard Co. He came to CA in 2004 to serve as CFO at the height of the company's difficulties with the SEC and Justice Department investigations.
A press conference further detailing the changes has been scheduled for later this morning, CA officials said.