Computer Associates Computer Software
Essay specific features
April 11, 2013
No of pages / words:
3 / 816
Rating of current essay:
Clarke will wear both hats within the company while the board of directors looks for a permanent CEO and new CFO.
The company also forced the resignation of the senior vice president of worldwide sales, Stephen Richards, who was replaced by Greg Corgan in the position. In a conference call with investors and reporters Monday morning, board chairman Lewis Ranieri said with the current team in place, he doesn't feel compelled to rush the search for permanent replacements...
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In addition to the management team already in place because of Kumar, he noted the former chairman and CEO was the one to put its current business practices in place with the New Business Model in October 2000, after years of questionable accounting practices.
It seems, according to Ranieri and Walter Schuetze, former SEC chief accountant and head of CA's internal audit, that quarterly and annual financial statements at the time were assessed on a '35-day' month...
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