Technology

Computer Associates Fires Back at Wyly

Company's annual user conference held under cloud of dissident shareholder.
CFO.com StaffJuly 9, 2001

Computer Associates’ chairman Charles Wang and CEO Sanjay Kumar used the firm’s annual user conference, CA World, as a forum to blast Sam Wyly, the Texas-based shareholder who is trying to unseat management.

Wyly’s challenge to Wang and Kumar burst on the scene in early June, when he accused the company’s management of failing to produce an adequate return to shareholders.

According to a report from Reuters on Monday morning, Wang called Wyly’s challenge a “a big waste of time given what we have accomplished.”

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Computer Associates used its annual event as an occasion to announce marketing agreements with Oracle, Alcatel, Novell, and other technology suppliers.

Click here to read Computer Associates’ news release on its proxy statement.

Click here to read Ranger Governance’s open letter to Computer Associates shareholders.