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Kumar Out As Computer Associates' Chairman And CEO

Sanjay Kumar has stepped down as chairman and CEO of Computer Associates International.

The news was announced Wednesday as one result of an internal audit being performed by CA's board of directors into the company's accounting practices.

Kumar will stay on with Islandia, N.Y.-based CA as the company's chief software architect, a new position created for him. Kumar also resigned from the CA board, according to company officials.

"The board will launch a search for a new CEO immediately and is expected to name an interim CEO shortly," the company said in a statement.

Meanwhile, Lewis Ranieri, the CA board's lead independent director since 2002, was elected chairman of its board of directors.

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