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April 25, 2004

Director tipped for CA top spot

Sitting Computer Associates International Inc director Kenneth Cron has been tipped as the most likely person to take over the CEO role on an interim basis, following the removal of Sanjay Kumar, who stepped aside last week.

By CBR Staff Writer

Sources told Reuters and other news agencies on Friday that Cron has been offered the post until the company can find a permanent replacement for Kumar, but that Cron had not yet decided to accept the offer.

Cron joined the board during its last big scandal in mid-2002, when he was CEO of Vivendi Universal Games and CA’s board was fighting off a protracted proxy battle waged by dissident shareholder Sam Wyly.

Whoever was to take the CEO’s position would find themselves working alongside Kumar, who became the firm’s chief software architect during last week’s reshuffle. Kumar also was replaced as chairman by Lewis Ranieri.

The moves coincide with the latter stages of an investigation by the company, the US Attorney’s Office, and the Securities and Exchange Commission into improper accounting practices at the company.

Senior CA executives were found to have been shifting revenues into prior quarters in order to make its sales look better and allow it to hit Wall Street estimates. Four men have been charged, and so far Kumar has not directly been accused of wrongdoing.

This article is based on material originally published by ComputerWire

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