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Will cease all involvement with the company's business effective immediately.
Stephen Taub, CFO.com | US
June 7, 2004
Computer Associates International Inc., which is being investigated for its past accounting practices, announced that chief software architect and former chairman and chief executive officer Sanjay Kumar is leaving the company.
Kumar will cease all involvement with the company's business effective immediately, the company added in a statement.
Chairman Lewis Ranieri noted that the board is committed to reaching a settlement of the government's investigation into the company's past accounting practices as quickly as possible. "We are working hard to take the remedial steps necessary to put this entire matter behind CA, he said in a statement. "Sanjay's decision to leave CA was made in that spirit."
"It has become increasingly clear to me in the past few days that my continued role at CA is not helping the company's efforts to move forward," added Kumar in a statement.
Federal prosecutors and the Securities and Exchange Commission are investigating the Islandia, New York-based company, just a few miles down the Long Island Expressway from Symbol Technologies, a Holtsville-based company that has also been embroiled in an accounting scandal.