CA Creates Post To Monitor Corporate Governance

Computer Associates International Thursday named Robert Lamm its first corporate secretary and director of corporate governance.

In the new position, Lamm will be responsible for the ongoing development and implementation of CA's corporate governance programs and policies, as well as maintaining the company's relationships with institutional investors on corporate governance-related topics, CA said in a statement.

Lamm most recently served as chair of the Securities and Corporate Governance Practice Group at Gunster, Yoakley and Stewart, P.A., a law firm in West Palm Beach, Fla.

CA, based here, has made concerted efforts to improve its corporate governance policies since entrepreneur Sam Wyly put criticism of CA's policies at the heart of a proxy fight to gain seats on CA's board last year.

President and CEO Sanjay Kumar has said CA will work to establish itself as the "gold standard" for corporate governance.

CA recently adopted term limits that forced the resignation of several long-standing board members, expanded its board to 12 members, and named seven new directors this year.

However, CA drew criticism in July when it squelched the second of Wyly's proxy attempts by paying him $10 million to extend a non-compete agreement and to drop any proxy challenges for the next five years.

CA also is the focus of an ongoing federal investigation into its accounting practices.

Shares of CA Thursday closed down 8 cents at $14.86.