CA Names CFO, Remains Mum On Layoff Rumors - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News
News
7/28/2006
01:47 PM
50%
50%

CA Names CFO, Remains Mum On Layoff Rumors

Nancy Cooper is CA's new executive VP and CFO. Cooper, the former CFO of pharmaceutical market intelligence firm IMS Health, arrives at a time when CA's financial condition isn't in the best of health.

CA named a new CFO and fended off rumors of looming layoffs Friday.

Nancy Cooper is CA's new executive vice president and CFO, according to the Islandia, N.Y., vendor. She starts Aug. 15 and reports directly to CEO John Swainson, CA said.

Cooper takes over for interim CFO Bob Cirabisi, who held CA's financial reins for about three months following the sudden departure of CFO Robert Davis in May. Cirabisi will settle back into his former role of corporate controller, CA said.

Cooper, the former CFO of pharmaceutical market intelligence firm IMS Health, arrives at CA at a time when CA's financial condition is not in the best of health.

In June problems with stock option grants and subscription revenue accounting prompted CA to delay filing its complete fourth quarter and full year fiscal 2006 results for the second time. The vendor has been losing money for several years, and corrections already made to its financial books are set to drag down CA's subscription revenues through approximately 2011, the vendor said.

Reports of pending layoffs in August of between 800 and 1,000 CA employees have surfaced. A CA spokesman said the company could not comment on rumor or speculation, but he did say CA is "always looking for ways to cut costs."

CA's deferred prosecution agreement with federal prosecutors related to the $2.2 billion accounting scandal that former CEO Sanjay Kumar and several others have pled guilty to is scheduled to be completed in September.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
Commentary
Why 2021 May Turn Out to be a Great Year for Tech Startups
John Edwards, Technology Journalist & Author,  2/24/2021
News
How GIS Data Can Help Fix Vaccine Distribution
Jessica Davis, Senior Editor, Enterprise Apps,  2/17/2021
Slideshows
11 Ways DevOps Is Evolving
Lisa Morgan, Freelance Writer,  2/18/2021
Register for InformationWeek Newsletters
Video
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll