ISLANDIA, NY ? Computer Associates disclosed the pay package for its next chief executive offer, which includes $5.3 million in cash signing bonus. CA has a Michigan regional office in Southfield.
The software company designated John Swainson, a former executive at IBM, as CEO-elect this week. He fills a post vacated by Sanjay Kumar in April amid an accounting scandal. Swainson was paid a $2.5 million signing bonus and $2.8 million to reflect benefits he would have received had he stayed with IBM, according to documents filed with the Securities & Exchange Commission.
Swainson’s base salary will be $1 million under the five-year contract. The executive also received an initial grant of 350,000 stock options with exercise prices of $30.11 each, and 100,000 shares of restricted common stock.
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