CA founder's wife resigns from subsidiary

By SiliconIndia   |   Tuesday, 20 January 2004, 08:00 Hrs
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NEW YORK: Nancy Li, the wife of Computer Associates International Inc. (NYSE:CA - News)'s founder Charles Wang, has resigned as head of one of the software company's small subsidiaries.

Li, who joined Computer Associates in 1978 and married Wang in 1991, served several years as the software giant's chief technology officer. She became chief executive of iCan SP Inc., a subsidiary created in August 2000 when Wang stepped down as CA's chief executive.

Li was reportedly frustrated because Computer Associates let its investment in iCan languish. She recently offered to purchase Computer Associates' 90% stake in the venture but was rebuffed, according to Newsday, which earlier reported her departure.

A spokesman for the Wang family said Li submitted a letter of resignation on Tuesday after speaking with her husband's successor, Chief Executive Sanjay Kumar, and members of the iCan board. She was not available for comment.

A Computer Associates spokesman said Li had "voluntarily" resigned. "She was not asked to leave," he added.

The Islandia, N.Y., company is still deciding its plans for the subsidiary, which has about 50 employees. ICan sells software used to track and manage a company's technology resources. It was originally created to be spun off in an initial public offering. Last month, Computer Associates sold another subsidiary, ACCPAC, which had filed for an IPO.

Li's departure marks the end of the Wang family's involvement in the company. Charles Wang, who co-founded the company in 1976 and built it into the third largest U.S. software firm with a series of acquisitions, retired as chairman in November 2002 amid an accounting investigation.

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