February 9, 2005 9:21 AM PST
Swainson steps into CEO role at CA
Chief executive, CA
Former IBM executive Swainson, who was named as CA's incoming CEO last year, will continue as president. He replaces interim CEO Kenneth Cron, who has held the post since April 2004. Cron was given interim charge of the software company following the ouster of Sanjay Kumar stemming from a $2.2 billion accounting scandal.
The appointment of Swainson, 50, marks a significant milestone in CA's effort to turn itself around after a tumultuous period. The Islandia, N.Y., company has swapped out most of its high-level staff over the past year after pushing out Kumar and several other financial and legal executives.
As president and CEO-elect, Swainson helped reorganize CA's business units.
"Ken and COO Jeff Clarke were able to successfully overcome significant obstacles," CA Chairman Lewis Ranieri said in a statement. "The company performed solidly for the past three quarters, underwent a restructuring effort, made two strategic acquisitions to add to its security portfolio, outlined a growth strategy and continued to fill key management positions with highly credentialed individuals."