Software manufacturer Computer Associates International Inc. has hired Marc Loupé, formerly a vice president of finance with Sun Microsystems, as a senior vice president and internal audit head.
Loupé will be responsible for overseeing all the CA's internal audit and risk management functions, including assessing the adequacy of the internal controls associated with the company's financial, operational and information technology activities. He will report to the audit and compliance committee of CA's board of directors and executive vice president, corporate secretary and general counsel Kenneth V. Handal.
Loupé is a 17-year veteran of Sun Microsystems, where he was vice president of finance for the company's product groups and led the organization's efforts to comply with the Sarbanes-Oxley Act. Prior to that role, he held various senior-level financial and operational assignments, including vice president of finance for worldwide sales, vice president of finance and staff operations for software products, and director of internal audit. He was a member of the company's executive financial management group for the past decade.
Loupé, a CPA, earned a degree in business administration/accounting from California State University-San Luis Obispo and attended the Stanford Executive Program.
The Securities and Exchange Commission unearthed improper accounting methods used at CA between 1998 and 2000, eventually leading the company to restate $2.2 billion in revenue.
In late 2004, former chief executive Sanjay Kumar was indicted on charges of securities fraud, conspiracy and obstruction of justice. CA reached agreements with the Department of Justice and the SEC to establish a restitution fund of $225 million to compensate shareholders, as well as to strengthen its corporate governance, management team, and financial reporting and processes, and to enhance its compliance and ethics training.
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