Close
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Development
    • Development

    Millionaire Wyly Tries to Oust CAs Board

    Written by

    eWEEK EDITORS
    Published July 2, 2001
    Share
    Facebook
    Twitter
    Linkedin

      eWEEK content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

      In most games, starting out with a 26-point deficit would be enough to prompt a forfeit. But the venture group looking to take control of Computer Associates International is showing no signs of giving up.

      Ranger Governance, run by Texas millionaire Sam Wyly, continues its battle of perception, attempting to convince CA shareholders to vote for its slate of electors over the current eight-member board that is up for re-election Aug. 29. If it succeeds, Wyly would take over as chairman.

      But he faces a tough challenge. Swiss billionaire Walter Haefner, who owns the largest share of CA with more than 21 percent, stated he would vote to keep the existing board. Along with the 6 percent held by the board, thats 27 percent against Wylys less than 1 percent. He gained the stake from his sale last year of Sterling Software to CA for $4 billion.

      Of course, with 72 percent of the company up for grabs, anythings possible. “It looks like the odds are against Wyly,” said Kevin Buttigieg, analyst at UBS Warburg. “But, at least it looks like people are considering it.”

      The Ranger group has argued that removal of the board is necessary to retain shareholder value. CAs stock performance has greatly lagged that of the Standard & Poors 500 over the last five years.

      During a Webcast to investors, Wyly lashed out at an “inept” and “sleepy” board of directors that continued to lavish more than a billion dollars of stock on its highest executives despite the companys poor performance.

      CAs main competitors, BMC Software and Compuware, have also suffered financially, although not as severely, Buttigieg pointed out.

      If Wyly wins, he would divide the company into four divisions, according to documents posted at the Ranger Governance Web site: storage, security, systems management and knowledge management.

      If Wyly is unsuccessful, its unlikely much would change at CA, Buttigieg said, other than the policies governing election of the board.

      CA has already begun implementing a new business plan that ties revenue from its software to the success of its customers, which executives said will promote more shareholder value.

      CA representatives did not respond to requests for comment. But a statement on the companys Web site affirmed, “Our management and board have done well for CAs shareholders and we intend to strongly oppose Mr. Wylys proposal.”

      eWEEK EDITORS
      eWEEK EDITORS
      eWeek editors publish top thought leaders and leading experts in emerging technology across a wide variety of Enterprise B2B sectors. Our focus is providing actionable information for today’s technology decision makers.

      Get the Free Newsletter!

      Subscribe to Daily Tech Insider for top news, trends & analysis

      Get the Free Newsletter!

      Subscribe to Daily Tech Insider for top news, trends & analysis

      MOST POPULAR ARTICLES

      Artificial Intelligence

      9 Best AI 3D Generators You Need...

      Sam Rinko - June 25, 2024 0
      AI 3D Generators are powerful tools for many different industries. Discover the best AI 3D Generators, and learn which is best for your specific use case.
      Read more
      Cloud

      RingCentral Expands Its Collaboration Platform

      Zeus Kerravala - November 22, 2023 0
      RingCentral adds AI-enabled contact center and hybrid event products to its suite of collaboration services.
      Read more
      Artificial Intelligence

      8 Best AI Data Analytics Software &...

      Aminu Abdullahi - January 18, 2024 0
      Learn the top AI data analytics software to use. Compare AI data analytics solutions & features to make the best choice for your business.
      Read more
      Latest News

      Zeus Kerravala on Networking: Multicloud, 5G, and...

      James Maguire - December 16, 2022 0
      I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
      Read more
      Video

      Datadog President Amit Agarwal on Trends in...

      James Maguire - November 11, 2022 0
      I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2024 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×