IBM Sales Exec Swainson to Become CA CEO
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Computer Associates International Inc. (CA.N: Quote, Profile, Research) is set to name IBM sales executive John Swainson as chief executive, completing a seven-month search to replace
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Computer Associates International Inc.  is set to name IBM software sales head John Swainson as chief executive, completing a seven-month search to replace indicted former CEO Sanjay Kumar, sources said on Monday.
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Roger King, formerly president at Software Spectrum, will lead worldwide sales at security software maker McAfee.
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CA's former head of worldwide sales will pay for his part in a major fraud scheme at the software company.
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The wild one. Computer Associates International (nyse: CA - news - people ) has named John Swainson as its new chief executive, reports say.
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The acquisition will allow CA to consolidate its position in the market for user authentication, access control and administration products, CEO Kenneth Cron said this morning.
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Computer Associates International Inc.'s  new CEO, an IBM veteran, is remaking the company's business structure along the lines of Big Blue, as the software supplier gets back on its feet after an accounting scandal.
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CA's chief financial officer said the software vendor expects to make additional restructuring moves in a bid to reduce its annual costs by another $200 million.
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Former Cisco SystemsÂ executive Mike Volpi will become CEO of online video company Joost Operations, replacing founding CEO Fredrik de Wahl, the company announced Tuesday.
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(InfoWorld) - Troubled systems management and security software vendor CA aims to get back on track in its current fiscal year after a series of unforeseen setbacks last year, its chief executive officer pledged to shareholders. "2006 was clearly a year of transformation," John Swainson told shareholders at the company's annual meeting in New York Monday, which was also webcast. "We didn't fully deliver on our expectations for 2006. Execution is the theme for CA in 2007." CA had to delay final filing fourth-quarter and full fiscal 2006 financial results twice due to internal stock options investigations and the impact of a new sales-commission plan. "It didn't reflect well on us a company," Swainson said. "Hopefully, it's all behind us." Focusing on the convergence of systems and storage management and on security management software as outlined in the company's Enterprise IT Management (EITM) strategy, Swainson hopes to grow CA from a US$4 billion company to $6 billion by 2009, he said. The watchwords for CA going forward are "unification and simplification," he added. CA spent over $1 billion on nine acquisitions during fiscal 2006, a practice Swainson doesn't see CA repeating in the near future. Instead, the vendor will make "much smaller" purchases in fiscal 2007 and work on integrating into its existing software the technologies it has already acquired, he said. CA continues to be a company haunted by its past. One unidentified shareholder asked why in all of CA's recent ups and downs, the vendor hasn't mentioned Charles Wang, the company's charismatic co-founder and former chairman and CEO and his remuneration from the firm. "Mr. Wang doesn't have an operational role at company," Swainson said. "I've never met with him in my nearly two-year tenure" at CA. Wang is a stockholder, but Swainson said he's unaware of any other involvement the former company head has with CA. Wang's successor at CA, Sanjay Kumar, resigned from the company in 2004 following questions about his role in an accounting fraud in which the vendor recorded revenue before contracts were finalized to beef up quarterly financial results. Kumar was indicted and pleaded guilty to financial fraud charges in April, along with codefendant Stephen Richards, previously head of worldwide sales at CA. The two men are due to be sentenced in October. CA reached a deferred prosecution agreement with the U.S. government in September 2004, requiring the company to pay $225 million to a restitution fund to compensate victims of the fraud. Another shareholder asked about the status of that arrangement. Last week, CA announced an agreement with the U.S. Attorney's Office for the Eastern District of New York and the U.S. Securities and Exchange Commission to extend the term of Lee Richards as an independent examiner overseeing CA's financial reporting until May 1, 2007. Richards' term had been due to expire last Saturday. "The company has largely met the agreements, but material weaknesses still exist," said CA Chairman Lewis Ranieri. "We're working on those areas and hopefully will end Richards' term even before May." CA has paid into the fund and its distribution is being finalized, he added. Ranieri directed CA shareholders to a special Web site -- http://www.computerassociatesrestitutionfund.com/ -- as the official source for information. At the meeting, CA shareholders elected all 11 members of the board to 1-year terms and defeated a stockholder proposal to put in place a poison pill designed to prevent a hostile takeover of the company. Â
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LOS ANGELES (CBS.MW) -- Computer Associates, the beleaguered maker of corporate software, will tap a longtime IBM executive as its new chief, according to a published report Monday.
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NEW YORK: Computer Associates International Inc said on Wednesday it has awarded its new chief executive John Swainson a pay package totaling $12.8 million (approx Rs 54 crore), in signing bonus, salary, stocks and options.
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By MARTHA McKAY, The Record, Hackensack, N.J.  Dec. 10--Carmine Cacciavillani won the business equivalent of a  mega-bucks lottery a few weeks back.   He sold his company -- Palisades Technology Partners -- to mega-giant  IBM.
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Circuit City CIO Bill McCorey explained his decision to outsource the company's data center operations to IBM in a keynote speech at the ERIeXchange conference in Boston.
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(InfoWorld) - CA continued to move toward a turnaround in its business with an uptick in its fourth-quarter revenue driven by software subscriptions and professional services. However, while revenue rose 7 percent toÂ more thanÂ $1 billion in the fourth quarter of fiscal 2007, CA reported a net loss of $20 million, due in part to $100 million in restructuring and other charges. Some $71 million of the charges were due to severance costs related to the cutting of 1,700 jobs, which CA first outlined in August. Still, the $20 million net loss wasn't as bad as the $41 million loss CA recorded in the fourth quarter of fiscal 2006. Discounting the charges, the software vendor recorded net income of $109 million for the quarter ended March 31, 2007, compared with $81 million in the year-ago quarter. EPS (earnings per share) were $0.20, up from $0.13 a year ago. A consensus estimate of Thomson Financial analysts had predicted that CA would report revenue of $1.01 billion on an EPS of $0.20. John Swainson, CA president and CEO, described the company's performance in the fourth quarter as "solid" with the vendor's attention still firmly fixed on restructuring and cost savings efforts. "Over the last 12 months, we have refreshed virtually all our major product lines," Swainson said in a release. CA is seeing increased demand for its systems management, business service optimization, and security management software, he added. Looking ahead, CA expects to report total revenue in fiscal 2008 of between $4.05 billion and $4.10 billion and EPS, excluding any likely charges, in the range of $0.94 to $0.98. Earlier this week, CA was finally able to lay to rest some of the vestiges of its troubled financial past when the company was known as Computer Associates International. CA announced Monday that it had met the terms of the DPA (deferred prosecution agreement) it entered into back in September 2004 and that the agreement had now expired. Consequently, U.S. District Court Judge I. Leo Glasser dismissed all pending charges against the company, which had stood accused of securities fraud and obstruction of justice for falsely recording software licensing revenue. "I am also very pleased that CA has successfully concluded the DPA," Swainson said in Wednesday's release. "As a result of the hard work of all CA employees, we are now a stronger company and are moving forward with a sense of vigor and enthusiasm to becoming one of the world's most successful software companies. CA entered into the DPA after several of the company's former executives, including the previous CEO Sanjay Kumar, were found to have falsely reported hundreds of millions of dollars in revenue before licensing agreements were finalized to bolster quarterly financial results. The practice was dubbed the "35-day month" and later caused the vendor to restate $2.2 billion in revenue. Judge Glasser sentenced Kumar to 12 years in prison in November and then in April ordered the former CEO to pay nearly $800 million in restitution to the victims of the securities fraud he perpetrated. However, that's not the end of the matter. A special committee at CA released a report in AprilÂ blaming cofounder and former Chairman Charles Wang for accounting fraudÂ and recommended suing Wang for damages and the value of the company stock he received.
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In July 2003, IBM&#39;s chief executive, Samuel Palmisano, traveled to Beijing to explore the sale of the company&#39;s personal computer business.
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(InfoWorld) - Software vendor CA expects to continue restructuring its operations, which is likely to result in further reductions in its headcount, according to the company's CFO. "We do anticipate some additional restructuring in fiscal 2008," CA CFO Nancy Cooper said during a Wednesday conference call with analysts to discuss the company'sÂ financial results for the fourth quarter. During the quarter, which ended March 31, 2007, CA completed the cutting of 1,700 jobsÂ first outlined in August. On its Web site, CA puts its total workforce as of March 31, 2006, at around 16,000. Cooper wouldn't be drawn on specifics except to note that CA believes there are still more areas in its business where the vendor could make "additional efficiencies." The company is hoping to begin fiscal 2009 having realized some $200 million in annualized savings, she said, which would come from further restructuring. "We're really systematically trying to go through our business to see if we can run it more efficiently," Cooper said. For instance, CA has been working to move its European operations away from being run on an individual per-country basis in favor of a more regional organization. That kind of thinking could also be applied to other areas of CA's business so they run in a more global fashion, she added. CA plans to work in general terms on improving its international business, according to John Swainson, the company's president and CEO. In the fourth quarter of fiscal 2007, while total North American revenue rose 6 percent, revenue from CA's international operations fell by around 2 percent. The company has already made significant management changes in Europe, its largest business outside of the U.S., Swainson said on the conference call, and he expects those changes to bear fruit shortly in terms of improvements in revenue. Swainson reiterated his oft-repeated belief that transformation at CA is "a multiyear process," but he added that the company has made progress on several fronts over the past two years, notably in boosting the productivity of its salesforce to win more software and services business. "There's clear evidence that customers and partners are seeing CA as a different company and someone they want to partner with," he said. Swainson expects the vendor's business service optimization and enterprise systems management software operations to continue to perform strongly and for both its security and storage software businesses to rebound and begin to grow again.ADVERTISEMENTIBM Information On Demand 2006Industrial Industry Leaders, please join us at IBM's premier information management global event, IBM Information On Demand 2006, October 15-20, Anaheim, CA. More IBM business and technical solutions content in one place than ever before! Select from  over 800 sessions. Register today!