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CA board wins battle for control

Computer Associates (CA) shareholders have rebuffed Sam Wyly's dramatic bid to shake up the company's board of directors.

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Computer Associates (CA) shareholders have rebuffed Sam Wyly's dramatic bid to shake up the company's board of directors.

At a shareholders' meeting on 29 August, more than 75% voted to retain the 10 incumbent board members. Formal certified election results from the vote would be available within the next few weeks, according to CA.

Wyly, a CA shareholder, had sought to replace four of the company's directors, including co-founder and chairman Charles Wang, with nominees of his own choosing.

Ranger Governance, Wyly's investment firm and the vehicle he used for the proxy bid, says it is happy with the changes at CA that were brought about by the campaign.

"We believe this is already an unequivocal victory," said Steve Perkins, a Ranger Governance nominee, before voting closed.

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