CA's Sales Head Resigns
The revolving door at software giant CA, formerly Computer Associates, continues to spin, this time with the company's head of worldwide sales departing.
The Islandia, N.Y.-based company, whose products help businesses manage large computer installations, said on June 5 that Gregory Corgan, executive vice president of worldwide sales, was leaving the company.
In May, chief financial officer Robert Davis left the company. Also in May, chief technology officer Mark Barrenechea said he was leaving CA to join venture firm Garnett & Helfrich. And in April, chief operating officer Jeff Clarke resigned to run the travel services division at Cendant Corp.
The departures have made chief executive John Swainson's efforts to restore confidence following an accounting scandal all the more difficult. In 2004, CA admitted it had improperly inflated revenue figures for several years. In the wake of that admission, former CEO Sanjay Kumar pleaded guilty to obstruction of justice and securities fraud charges.
CA said in a release that it won't be filling Corgan's position. Instead, a team of lower-level sales executives will report to newly promoted chief operating officer Michael Christensen.
"Our objective is to centralize as much of the sales operations infrastructure as possible," Christensen said in the release. "We want to reduce much of the administration and support work our sales force is required to do and allow them to focus on driving revenue by providing more value."
Last week, the company said it would need to delay the release of its fourth-quarter results and restate third-quarter earnings after it uncovered approximately $26 million in additional commission expenses that should have been recorded.
CA is one of the software industry's biggest players. Revenue for the fiscal year ended March 31 was projected to reach $3.8 billion.