CA Names Former Hewlett-Packard Exec As CFOCA Names Former Hewlett-Packard Exec As CFO

Computer Associates, which forced out its CFO last year in the midst of a long-running federal probe, on Thursday named former Hewlett-Packard executive Jeff Clarke as executive VP and CFO.

Clarke joins CA after helping orchestrate one of the largest mergers ever. He was CFO at Compaq when the company merged with HP in 2002. Clarke led a team that helped achieve $3.5 billion in savings, and stayed on until last November as executive VP of global operations, managing the company's $50 billion in procurement--and was instrumental in making the difficult transition amenable to many.

At CA, Clarke will be asked to police a corporate culture in which winning at any cost led to some questionable financial maneuvering. For example, like many software companies in decades past, CA until last year recognized revenue in one quarter while getting the payment in another. Clarke will be expected to help CEO Sanjay Kumar continue to develop a culture that honors accepted practices when it comes to finance.

Clarke, recruited by Kumar, will take over immediately from Douglas Robinson, the interim CFO for the past six months. Robinson, a senior VP of finance, will now report to Clarke.

Late last year, CA asked its CFO, Ira Zar, to resign. It also forced out Lloyd Silverstein, a former senior VP of finance who pleaded guilty in January to an obstruction of justice charge and is cooperating with the government.

CA received a Wells Notice from the Securities and Exchange Commission in January, indicating the agency will soon take action against it.

The company said Monday that it's looking for a new general counsel to replace Steven Woghin, a 12-year CA veteran who has managed its legal affairs during the probe. Woghin has not been charged with any wrongdoing by the company or the government.

Jasmine Noel, an analyst at business-technology research firm Ptak Noel & Associates, says Clarke is being brought in to appease the feds. She adds: "The SEC doesn't seem to want to leave CA alone