CA names board chairman to be chief executive

The board chairman of CA Inc. has been named the company's chief executive, the Islandia-based software maker said Thursday.

The new CEO, William E. McCracken, will retain his position as chairman of the board. McCracken, 67, previously served as executive chairman since John A. Swainson's retirement was announced in September.

"Over the past five months, Bill has helped direct the day-to-day management of CA and has been integral in developing and executing the strategy to position the company for market leadership," Gary J. Fernandes, lead independent director at CA, said in a statement. Fernandes headed the board search committee.

"We had the benefit of watching him lead the company and it became evident to us that Bill McCracken has the knowledge, industry expertise, and experience to take CA to the next level," Fernandes said.

The CA Inc. news release included a statement from McCracken. "I am honored to be selected as CEO by the board of directors of CA," he said.

CA also released its third-quarter earnings report Thursday, showing increased revenues and profits for the three-month period ending Dec. 31. The company had profits of $257 million, up from $208 million in the same period last year, on revenues of $1.13 billion, up from $1.04 billion in the year-ago quarter.

"We are very pleased with our third-quarter performance," McCracken said. "We achieved robust revenue growth."