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.
Davis joined
CA from Dell in February 2005 to help turn the company around after an
illegal accounting scheme
by former CEO Sanjay Kumar and other executives shook CA to the core.
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.
