CA to Name IBM Exec Swainson as CEO
555141
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.
465645
Allstate Corp. , the largest  U.S. publicly traded insurer of homes and autos, on Monday said  President and Chief Operating Officer Thomas Wilson will  succeed Edward Liddy as chief executive officer January 1.
275058
(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
368952
Citigroup Inc. , the largest banking group in the United States, said on Sunday it had named Gary Crittenden, formerly chief financial officer at American Express Co. , as its chief financial officer.
419394
Computer Associates International Inc., a business software company, has agreed to give its new CEO, 50-year-old John Swainson, a pay package amounting to more than $8.6 million in salary, signing bonuses and stock.
538485
IBM chief financial officer Mark Loughridge said last night the world&#39;s largest computer company expects to beat Wall Street analysts&#39; forecasts for the full year.
310043
Computer Associates International Inc.  CA.N on Tuesday named former IBM software sales head John  Swainson as president and chief executive, seven months after  Sanjay Kumar stepped down amid an accounting scandal.
595561
By David Robinson, The Buffalo News, N.Y.  Sep. 21--Computer Task Group has taken the interim tag off of Brendan M.  Harrington's title as chief financial officer.
302453
Computer Associates International Inc. is expected this week to announce a succession plan for its chief executive post in which a top IBM executive will assume the role now held by Kenneth Cron, sources said.
736673
(InfoWorld) - William McCracken is going to succeed Lewis Ranieri as chairman of CA, effective immediately, the management software company said Wednesday. Ranieri will remain a director of CA but is stepping down as chairman after three years because the investigations and legal problems for the company have largely been put behind it. Last November, former CA CEOÂ Sanjay Kumar was sentenced to 12 years in prisonÂ on charges on securities fraud and obstruction of justice. He has also been ordered to pay $1 billion in restitution to victims of the fraud he committed while running the company. In April, CA released an internal report that alsoÂ blamed co-founder Charles Wang for accounting fraudÂ at the company and recommended suing him for damages. McCracken chaired the special committee that wrote that report. CA avoided prosecution for securities fraud under an agreement with the U.S. government. "With the Deferred Prosecution Agreement successfully completed and the company moving in the right direction, it is both fitting and appropriate that I step down as chairman," said Ranieri in a statement. He's been on CA's board since 2001. McCracken, who retired in 2001 after a 36-year career at IBM, joined CA's board in 2006.
323199
The Walt Disney Co. said Tuesday it expects to announce a new chief executive by next June after a search that will include both inside and outside candidates to replace Michael Eisner, who is retiring in 2006.
691414
InfoWorld - IBM has named a 23-year company veteran as the new general manager of its System x server business, replacing Susan Whitney, who retired after 35 years with IBM.
339782
NEW YORK -- Troubled business software company Computer Associates International Inc. has selected longtime IBM executive John Swainson as its new chief executive, The Wall Street Journal reported Monday.
518058
SEPTEMBER 21, 2004 -- Starwood Hotels &amp; Resorts Worldwide today named as CEO Steven Heyer--previous president and COO of Coca-Cola Co.
724349
Nov. 22, 2004. Troubled business software company Computer Associates International Inc. reportedly has selected longtime IBM executive John Swainson as its new chief executive.
415783
Troubled business software company Computer Associates International Inc. reportedly has selected longtime IBM executive John Swainson as its new chief executive.
513548
Computer Associates International is expected to announce today that its new chief executive will be John Swainson, an IBM executive with strong technical and sales credentials but who is untested