CA unfazed by Wyly coyote coup

CA unfazed by Wyly coyote coup

Computer Associates' Australian operation has been quick to douse cold water over Texan billionaire and CA shareholder Sam Wyly's proxy attempt to coup CA's board and split the company into four businesses.

David Sanday, public relations manager for CA in Australia, claims Wyly's claims of gross mismanagement are groundless in light of the company's current attempts to rectify shareholder issues.

"The criticisms that Wyly has come out with have been brought up before and they are things that CA is already addressing," Sanday told ARN. "It is absurd to suggest we need to change everything around again since we are already addressing the issues."

"This sort of thing happens in the US corporate world all the time. It is really not much to be concerned about," dismisses Sanday. "It will all blow over soon enough."

Meanwhile, Wyly appears undeterred by a failed bid to secure the confidence of CA's primary international shareholder, Swedish billionaire Walter Haefner, who owns 21 per cent.

Last week Wyly held a Webcast to drum up investor support for his proxy fight over CA.

CA in turn hit back with a brief statement on its Web site regarding the matter. The statement noted its largest shareholder, Haefner, has relayed his support of the company's current management and board.

CA has announced the appointments of two new members to its board of directors: Lewis Ranieri, founder of Hyperion Partners and chairman and CEO of Ranieri & Co; and Linus Cheung, deputy chairman of Pacific Century CyberWorks and former CEO of Hong Kong Telecom.

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