Another CA Exec Exits
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Robert Davis, CA executive vice president and CFO, today became the latest executive to head for the revolving door of the management software vendor.
Davis will leave under what the company said in a statement is a mutual agreement. Robert Cirabisi, CA senior vice president and corporate controller, will assume CFO duties while the company looks for a permanent successor.
The departure comes a few weeks after the Islandia, N.Y., company warned that fourth quarter earnings would be below its previous expectations due to weak product sales, as well as poor forecasting of acquired companies' results.
CA estimated its Q4 revenue at $940 million to $950 million, below its prior expected range of $975 million and $1 billion.
"When we began the task of transforming CA, we knew that we would encounter many challenges and understood that in an undertaking of this scale and scope, changes were to be expected," said John Swainson, CA president and CEO.
Kumar plead guilty to fraud three weeks ago, owning up to his role in one of the most storied accounting scandals in high-tech history.
But the so-called 35-day month scheme has taken its toll, causing a number of other executives to quit their posts after relatively short stints at the company.
CA pleased the industry in 2004 by hiring former IBM executive John Swainson as CEO, and has made several purchases to improve its software portfolio and boost the company's market position.
But CA's COO Jeff Clarke left last month to become chief executive of the travel division of Cendant. Last week, CTO Mark Barrenchea said he was leaving to become a director at Garnett & Helfrich Capital.
Incoming CA CFO Cirabisi has been with CA through the old and new CA, joining the beleaguered software specialist in 2000 as U.S. controller before becoming vice president of investor relations in 2002, and senior vice president and chief accounting officer in July 2004. He became corporate controller in July 2005.
Davis will stay on for a short period of time to assist in the transition.