JOHANNESBURG (04/05/2004) - Technology industry veteran Jeff Clarke has been named executive vice-president and chief financial officer of Computer Associates International Inc. (CA), effective immediately.
"Jeff Clarke brings extensive financial and operations experience, and is an outstanding addition to CA," says chairman and CEO Sanjay Kumar. "He joins a strong senior management team made up of long-term CA people as well as outstanding industry executives who have joined the company over the past few years. The success of this or any company in this highly competitive industry is directly related to the strength of the people in key management positions, and Jeff has already clearly established himself as an outstanding leader."
Clarke, 42, who has nearly 20 years of experience in the technology industry, served as the senior vice-president, finance and administration, and chief financial officer of Compaq Computer Corp. from 2001 until the completion of its merger with Hewlett-Packard Co. (HP) in mid-2002. Until late last year, he served as HP's executive vice-president of global operations, a position that put him in charge of the company's supply chain, customer-to-cash and logistics operations. In that post, Clarke managed HP's US$50-billion procurement function.
Clarke says he will work to build on CA's already strong financial position.
"With consistent cash flow, a predictable and strong revenue stream, and decreasing debt, CA clearly is a fiscally strong leader in the software sector," he says. "Over the past three years, CA has set itself apart from others by adopting a subscription-based business model, which is the most transparent in the industry. This gives investors a real advantage in evaluating the company, and I believe it gives the company a clear advantage in serving its customers as well."
Clarke takes over the chief financial officer role from Douglas Robinson, who has served on an interim basis for the past six months. Robinson will continue at CA as senior vice-president for finance, and will report directly to Clarke.
"We owe Doug Robinson a debt of gratitude for the outstanding job he has done over the past two quarters," Kumar says. "He will continue to serve as an integral part of CA's Finance Department and will play an invaluable role for Jeff Clarke."
Following the $19-billion merger of Compaq and HP in 2002, Clarke played a key role in integrating the financials, operations and cultures of the two companies. As executive vice-president, merger integration, he was widely credited with leading the team which identified and captured more than $3,5-billion in post-merger savings.