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CEO of CA announces retirement plans

CEO of CA announces retirement plans

CA, Inc., today announced that John A. Swainson, chief executive officer, plans to retire from the Company on December 31, 2009. Or earlier, if they can find a suitable successor. A committee of the Company’s Board of Directors has been formed to begin an immediate search for a replacement.

Swainson will remain CEO and a director of the Company during the transition and plans to step down as a member of the Board of Directors effective upon his retirement from CA.

To assist in the transition, the CA Board of Directors has named William E. McCracken, previously non-executive Chairman of the Board, as the Company’s interim-executive Chairman of the Board until a successor for Swainson is named, or at the discretion of the Board

Severance costs are expected to be around $14 million. Shares in the organisation closed at $20.87 on September 3rd.

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