: CA Made Great Strides"> Perkins: CA Made Great Strides Stephen Perkins, president of Ranger Governance, said in a statement, "At a time when many boards are being broadly criticized for having failed to exercise good oversight, we are pleased to see that CA has made great strides in the corporate governance area. We believe Ranger has played a very important role in raising important issues at CA and in encouraging them to focus on good corporate governance. We believe that the Companys new independent directors--and its process for identifying new directors--will ensure that the Company adheres to its stated principles and that this will benefit shareholders. Our goal has always been to focus on providing value for all shareholders and we are confident that CAs Board is well positioned to do just that.""Wyly dropping the proxy fight is a positive for the company. CAs business needs focus in a very challenging competitive environment," said Damian Rinaldi, an analyst at First Albany Corp. in Stamford, Conn. "Wylys pressure was a catalyst to get the CA management team to be more forthright. In the grand scheme of things, Wylys influence was positive, although more recently it was less positive," Rinaldi said, adding, "CA still has to execute." Another observer said the battle had positive results. "You can look at it as a reimbursement for the cost of last years battle, which has produced improvements in CAs governance," said John Wilcox, vice chairman at Georgeson Shareholder Communications Inc., a proxy solicitation firm in New York. "I dont think its greenmail at all. There is a quid pro quo for the $10 million. There was a change in the behavior and attitude of CA." Related stories:
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Wyly offered this statement, "With the changes that CA has made, and under the leadership of Sanjay Kumar and his management team, I am confident that CA is on a course to being recognized as the gold standard in good corporate governance. CAs new business model and demonstrable focus on corporate governance should yield good results for all shareholders in the future. I am proud of Rangers role in this process of shareholder democracy."