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CA's CEO John A Swainson to retire by end of '09

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CIOL Bureau
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BANGALORE, INDIA: CA, Inc., today announced that its chief executive officer John A. Swainson plans to retire from the company on December 31, 2009, or upon the earlier selection of a successor. A committee of the company’s board of directors has been formed to begin an immediate search for a successor.

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“Five years ago, I joined CA with the goal of helping the company become a trusted, valued, and strategic partner to our customers, shareholders, employees and the communities where we live,” said Swainson, adding, “I am very proud that the CA team has largely accomplished the goal we set five years ago. We have restored CA’s business momentum and delivered 14 quarters of solid financial results.”

He said that as the company was being positioned for the next phase of growth driven by promising technologies that include virtualization and cloud computing, this was the opportune time to transition to new leadership as CA begins its drive to the next level.

Swainson will remain CEO and a director of the company during the transition and plans to step down as a member of the board of directors effective upon his retirement from CA, said a press release.

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To assist in the transition, the CA board of directors has named William E. McCracken, previously non-executive chairman of the board, as the Company’s interim-executive chairman of the board until a successor for Swainson is named, or at the discretion of the Board, the release added.

The company also announced that CA board member Gary J. Fernandes has been named as interim-lead independent director during the transition.

CA also announced that it is reaffirming its fiscal 2010 full year financial outlook that was issued when it released its first quarter financial results in July.

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