CA Chief Swainson To Retire - Eric Savitz (Barron's)

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CA Chief Swainson To Retire
Sep 01, 2009 09:13 PM UTC

Eric Savitz (Barron's)

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Via BARRONS.com: Tech Trader Daily - Barron's Online:

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CA Inc. (CA) said CEO John Swainson plans to retire by December 31, or upon the selection of a successor. The company has formed a search committee a new chief. He will also leave the company’s board.

Swainton, who has been at the software company for five years, said in a statement that “this is the opportune time to transition to new leadership as CA begins its drive to the nexct level.”

William McCracken, who had been non-executive chairman, will be interim executive chairman until ka successor is named, or at the discretion of the board. Gary Fernandes has been named interim lead indepdendent director.

The company also reaffirmed its previous FY 2010 financial outlook.

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