CA Inc. (CA) named Michael P. Gregoire the business-technology
company's new chief executive, replacing retiring CEO William E.
McCracken.
Mr. Gregoire, 46 years old, most recently was chairman,
president and chief executive of Taleo Corp., a cloud-based talent
management software firm. During his seven years at the helm of
Taleo, Mr. Gregoire managed an initial public offering in 2005 and
grew revenue from $78 million to $324 million, CA said. Taleo was
acquired early in 2012 by Oracle Corp. (ORCL) for nearly $2
billion.
Mr. Gregoire, who was also named to CA's board, has worked for
about 25 years in the software and IT services industries, and
previously worked at PeopleSoft Inc., which was also acquired by
Oracle, among other companies.
Mr. McCracken, 70 years old, has served as CA's chief executive
since January 2010 and is retiring at the end of March. He is also
leaving CA's board on Jan. 7, the same day Mr. Gregoire will take
over as the new CEO.
The maker of software for computer systems and mainframes has
recently posted slight revenue declines for two consecutive
quarters, following a streak of revenue gains for more than a
year.
In October, the company slashed its earnings estimates for the
second time this year and reported weaker quarterly earnings amid
its continuing struggle with a sales-force overhaul.
Shares closed Wednesday at $21.85 and were up 12 cents after
hours. The stock is up 8.1% since the start of the year.
Write to Ben Fox Rubin at ben.rubin@dowjones.com
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