CA Technologies Names Kieran J. McGrath Chief Financial Officer
November 07 2016 - 9:05AM
Business Wire
CA Technologies (NASDAQ:CA) today announced that Kieran J.
McGrath has been appointed executive vice president and chief
financial officer, effectively immediately. McGrath, who most
recently served as interim CFO, will report to Chief Executive
Officer Mike Gregoire.
“I am delighted to announce Kieran McGrath as CFO of CA
Technologies,” said Mr. Gregoire. “Kieran has become an integral
part of our management team, demonstrating both the strategic
vision and the business acumen to capitalize on our opportunities
and help shape the future of CA Technologies. Kieran has led
initiatives to improve processes, accelerate velocity, and drive
scale at CA. His effectiveness comes from his combined experience
in driving new, higher growth software businesses while maintaining
vibrancy in more mature product platforms, along with his
collaborative and results-oriented spirit.
“We compete in a dynamic and competitive industry. The changes
made across the executive leadership team over the past 18 months
reflect the evolution of our company. As an organization, we will
continue to be agile and make adjustments across the enterprise so
that we can best serve our customers, our employees, and our
shareholders. Looking ahead, I am energized by our opportunities
and by our heightened ability to achieve our potential in the years
ahead.”
McGrath, 57, joined CA Technologies in 2014 as corporate
controller and served in that role until being named interim-CFO in
July 2016. Prior to that, McGrath spent more than 30 years at IBM,
where he honed his financial, operational and transformational
management experience, ultimately overseeing the finance team for
the company’s $25 billion global software business. During that
time, IBM software became a growth business for IBM as they shifted
into higher-value market segments including cloud computing,
security and business analytics software. McGrath received his
bachelor of science in accounting from St. John’s University.
About CA Technologies
CA Technologies (NASDAQ: CA) creates software that fuels
transformation for companies and enables them to seize the
opportunities of the Application Economy. Software is at the heart
of every business in every industry. From planning, to development,
to management and security, CA is working with companies worldwide
to change the way we live, transact, and communicate - across
mobile, private and public cloud, distributed and mainframe
environments. Learn more at www.ca.com.
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Cautionary Statement Regarding Forward-Looking
Statements
Certain statements in this communication (such as statements
containing the words "believes," "plans," "anticipates," "expects,"
"estimates," "targets" and similar expressions relating to the
future) constitute "forward-looking statements" that are based upon
the beliefs of, and assumptions made by, the Company's management,
as well as information currently available to management. These
forward-looking statements reflect the Company's current views with
respect to future events and are subject to certain risks,
uncertainties, and assumptions. A number of important factors could
cause actual results or events to differ materially from those
indicated by such forward-looking statements, including: the
ability to achieve success in the Company’s business strategy by,
among other things, ensuring that any new offerings address the
needs of a rapidly changing market while not adversely affecting
the demand for the Company’s traditional products or the Company’s
profitability to an extent greater than anticipated, enabling the
Company’s sales force to accelerate growth of sales to new
customers and expand sales with existing customers, including sales
outside of the Company’s renewal cycle and to a broadening set of
purchasers outside of traditional information technology operations
(with such growth and expansion at levels sufficient to offset any
decline in revenue and/or sales in the Company’s Mainframe
Solutions segment and in certain mature product lines in the
Company’s Enterprise Solutions segment), effectively managing the
strategic shift in the Company’s business model to develop more
easily installed software, provide additional SaaS offerings and
refocus the Company’s professional services and education
engagements on those engagements that are connected to new product
sales, without affecting the Company’s financial performance to an
extent greater than anticipated, and effectively managing the
Company’s pricing and other go-to-market strategies, as well as
improving the Company’s brand, technology and innovation awareness
in the marketplace; the failure to innovate or adapt to
technological changes and introduce new software products and
services in a timely manner; competition in product and service
offerings and pricing; the ability of the Company’s products to
remain compatible with ever-changing operating environments,
platforms or third party products; global economic factors or
political events beyond the Company’s control and other business
and legal risks associated with non-U.S. operations; the failure to
expand partner programs and sales of the Company’s solutions by the
Company’s partners; the ability to retain and attract qualified
professionals; general economic conditions and credit constraints,
or unfavorable economic conditions in a particular region, business
or industry sector; the ability to successfully integrate acquired
companies and products into the Company’s existing business; risks
associated with sales to government customers; breaches of the
Company’s data center, network, as well as the Company’s software
products, and the IT environments of the Company’s vendors and
customers; the ability to adequately manage, evolve and protect the
Company’s information systems, infrastructure and processes; the
failure to renew license transactions on a satisfactory basis;
fluctuations in foreign exchange rates; discovery of errors or
omissions in the Company’s software products or documentation and
potential product liability claims; the failure to protect the
Company’s intellectual property rights and source code; access to
software licensed from third parties; risks associated with the use
of software from open source code sources; third-party claims of
intellectual property infringement or royalty payments;
fluctuations in the number, terms and duration of the Company’s
license agreements, as well as the timing of orders from customers
and channel partners; events or circumstances that would require
the Company to record an impairment charge relating to the
Company’s goodwill or capitalized software and other intangible
assets balances; potential tax liabilities; changes in market
conditions or the Company’s credit ratings; changes in generally
accepted accounting principles; the failure to effectively execute
the Company’s workforce reductions, workforce rebalancing and
facilities consolidations; successful and secure outsourcing of
various functions to third parties; and other factors described
more fully in the Company’s filings with the Securities and
Exchange Commission. Should one or more of these risks or
uncertainties occur, or should the Company’s assumptions prove
incorrect, actual results may vary materially from the
forward-looking information described herein as believed, planned,
anticipated, expected, estimated, targeted or similarly identified.
We do not intend to update these forward-looking statements, except
as otherwise required by law. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof.
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version on businesswire.com: http://www.businesswire.com/news/home/20161107005396/en/
CA TechnologiesDarlan Monterisi, 646-826-6071Corporate
Communicationsdarlan.monterisi@ca.comorJennifer DiClerico,
212-415-6997Corporate Communicationsjennifer.diclerico@ca.com
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