UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
April 21, 2004
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Date of Report: (Date of earliest event reported)
Computer Associates International, Inc.
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(Exact Name of Registrant as Specified in Charter)
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Delaware |
1-9247 |
13-2857434 |
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(State or Other Jurisdiction |
(Commission |
(IRS Employer |
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of Incorporation) |
File Number) |
Identification No.) |
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One Computer Associates Plaza, Islandia, New York |
11749 |
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(Address of Principal Executive Offices) |
(Zip Code) |
Registrant's telephone number, including area code: (631) 342-6000
Not Applicable
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(Former name or former address, if changed since last report)
Item 5. Other Events.
Effective April 21, 2004, the Board of Directors of Computer
Associates International, Inc. elected Lewis S. Ranieri as Chairman of the
Board of Directors. In addition, Sanjay
Kumar resigned as Chairman and Chief Executive Officer, and as a director, and
has accepted the position of Chief Software Architect, a new position at the
Company. The Company expects to appoint
an interim Chief Executive Officer shortly, and is commencing a search for a
new Chief Executive Officer. A copy of
the press release issued by the Company in connection with the foregoing is attached hereto as Exhibit 99.1.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a) |
Not applicable |
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(b) |
Not applicable |
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(c) |
Exhibit |
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99.1 - Press release dated April 21, 2004
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SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
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Computer Associates International, Inc. |
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Dated: April 21, 2004 |
By: |
/s/ Jeff Clarke |
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Jeff Clarke |
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Executive Vice President and Chief Financial Officer |
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Contacts: |
Jeanne Glass |
Dan Kaferle |
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Investor Relations |
Public Relations |
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(631) 342-2131 |
(631) 342-2111 |
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jeanne.glass@ca.com |
daniel.kaferle@ca.com |
CA ANNOUNCES MANAGEMENT CHANGES
ISLANDIA, N.Y., APRIL 21, 2004 - Computer Associates
International, Inc. (CA) today announced steps it is
taking as the Audit Committee of its Board of Directors completes its review of
CA's historical accounting practices.
These and previously announced actions are designed to meet the needs of
shareholders while underscoring CA's commitment to corporate accountability.
The Company is reviewing these findings and actions today
with officials of the U.S. Department of Justice and the U.S. Securities and
Exchange Commission.
The Company announced the following actions:
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"We believe the decisions we have made today are fair and
responsive to the situation and in the best interests of CA's customers,
shareholders and employees," said Ranieri.
"The Audit Committee's and the entire Board's exhaustive review of these
matters resulted in the removal of a number of individuals from the Company. The changes in Sanjay's role are not based on
the conclusion that he engaged in any wrongdoing. Nonetheless, the conduct in question occurred
during his tenure, and the Board felt this action was appropriate.
"We are pleased that Sanjay has agreed to assume the role of
chief software architect, enabling CA's stakeholders to continue to benefit
from his extraordinary knowledge, expertise and experience. He is highly regarded in the industry and has
made remarkable contributions to CA's business."
Ranieri is the founder and prime
originator of Hyperion Partners L.P. and Hyperion Partners II L.P. (Hyperion)
and Chairman or director of various Hyperion entities.
As previously announced, the Audit Committee found that CA
prematurely recognized revenue in fiscal 2000 on the basis of software license
agreements that were signed in a later quarter.
The Audit Committee continues to believe that the Company's New Business
Model and financial reporting in fiscal years 2002 and thereafter are
unaffected by the accounting practices that were in place prior to the
Company's adoption of the New Business Model in October 2000.
CA reiterated previous statements that although the Company
is unable to predict the scope or outcome of the continuing government
investigation, it is possible that it could result in the institution of
administrative, civil injunctive or criminal proceedings, including charges
against the Company and other officers of the Company, the imposition of fines
and penalties, suspensions or debarments from government contracts, and/or other
remedies and sanctions.
About CA
Computer Associates
International, Inc. (NYSE:CA), the world's largest management software company,
delivers software and services across infrastructure, security, storage and
life cycle management to optimize the performance, reliability and efficiency
of enterprise IT environments. Founded
in 1976, CA is headquartered in Islandia, N.Y., and operates in more than 100
countries. For more information, please
visit http://ca.com.
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© 2004 Computer
Associates International, Inc. One Computer Associates Plaza,
Islandia, N.Y. 11749. All trademarks, trade names, service marks, and
logos referenced herein belong to their respective companies.