ISLANDIA, NEW YORK (08/29/2001) - Computer Associates International Inc. shareholders rebuffed Sam Wyly's dramatic bid to shake up the company's board of directors, with more than 75 percent voting to retain the 10 incumbent board members in Wednesday's preliminary vote tabulation.
Formal certified election results will be available within the next few weeks, according to CA.
Wyly, a CA shareholder, had sought to replace four of CA's directors, including cofounder and Chairman Charles Wang, with nominees of his own choosing. Ranger Governance Ltd., 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 Ranger Governance nominee Steve Perkins in a brief speech before voting closed at 10:25 a.m. ET at the CA shareholder's meeting.
