By Stan Gibson  |  Posted 2002-07-24 Print this article Print

: 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 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."
"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:
  • Investors Raise Heat on CA
  • Rangers Perkins Seeks to Rescue CA
  • CA Adopts New Structure for Its Board
  • Interview: Kumar on CAs Battle Strategy
  • Commentary: CA Must Walk the Walk

    Stan Gibson is Executive Editor of eWEEK. In addition to taking part in Ziff Davis eSeminars and taking charge of special editorial projects, his columns and editorials appear regularly in both the print and online editions of eWEEK. He is chairman of eWEEK's Editorial Board, which received the 1999 Jesse H. Neal Award of the American Business Press. In ten years at eWEEK, Gibson has served eWEEK (formerly PC Week) as Executive Editor/eBiz Strategies, Deputy News Editor, Networking Editor, Assignment Editor and Department Editor. His Webcast program, 'Take Down,' appeared on He has appeared on many radio and television programs including TechTV, CNBC, PBS, WBZ-Boston, WEVD New York and New England Cable News. Gibson has appeared as keynoter at many conferences, including CAMP Expo, Society for Information Management, and the Technology Managers Forum. A 19-year veteran covering information technology, he was previously News Editor at Communications Week and was Software Editor and Systems Editor at Computerworld.

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