Computer Associates finalized its executive transition on Wednesday, naming John Swainson its new CEO.
CA selected Swainson, a 26-year IBM veteran, in November to fill the role temporarily held by Kenneth Cron. Cron replaced
former CEO Sanjay Kumar in April in the wake of the company’s “35 day” financial scandal.
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John Swainson Source: CA |
Cron will retain his seat on the Islandia, N.Y., company’s board of
directors, and Swainson, in addition to performing his CEO duties, will retain his role as president.
The transition period was originally expected to last four to six months,
but Lewis Ranieri, CA chairman of the board, said the board’s
confidence in Swainson prompted the timetable change.
“Ken [Cron] and John [Swainson] have worked extremely well together over the
past two-and-a-half months, and I couldn’t be more pleased with their
performances,” he said in a statement. “John has quickly displayed an
impressive knowledge of the company and its technologies, and his industry
background is a tremendous asset. Our confidence in his leadership abilities
and strategy to move CA forward led the board to name him CEO at this time.”
Swainson’s official recognition as CEO closes a turbulent chapter in CA’s
history. Kumar was removed from
his chairman and CEO positions in April by Ranieri, the then newly elected CA
chairman, for his role in an accounting scandal that was under investigation by federal regulators.
Kumar didn’t leave the
company, however, until June and was indicted by the U.S.
Department of Justice and U.S. Attorneys’ Office in September.
Swainson has made clear the company’s future relies on growth
through acquisition, though the company will still devote energy to the
organic growth of its existing software product line.