CA's Kumar Steps Down as Chairman, CEOBy Paula Musich | Posted 2004-04-21 Email Print
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Kumar also resigns his position from the board and assumes the position of "chief software architect." Search is on for a new CEO.Computer Associates International Inc. announced that Chairman and CEO Sanjay Kumar has stepped down and resigned his position from the board.
In a curious move, the company has created a new position for Kumar as chief software architect.
Lewis Ranieri, lead independent director of the board, was elected chairman of the board for the Islandia, N.Y., software giant.
The board of director's Audit Committee found last October that CA had recognized revenue in 2000 for software license contracts that had been signed in later quarters than had been reported to meet Wall Street revenue expectations.
Industry observers tracking CA speculated that CA co-founder Russell Artz could be tapped to lead the company in the interim, or that new Chief Financial Officer Jeff Clarke is a possible candidate. Clarke earlier this month left Hewlett-Packard Co. to join CA.
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