Charles Wang, founder of Computer Associates, dies at age 74
Charles Wang, founder of Computer Associates, dies at age 74
Charles B. Wang, who helped found software company Computer Associates International Inc. and was a part owner of the professional hockey team of the New York Islanders, died Sunday in Oyster Bay, N.Y. He was 74 years old.
Mr. Wang's lawyer, John McEntee, said Mr. Wang died of lung cancer.
The company he helped found in 1976, now known as CA Technologies, was created through dozens of acquisitions and originally focused on central computer software. Mr. Wang, long advertised as a highly successful immigrant entrepreneur, had a controversy in his later years with the company.
Some investors criticized as excessive a $ 1.1 billion share grant in 1998 to Mr. Wang and two other company executives. Later, the executives returned part of the prize after losing a civil lawsuit filed by the shareholders.
When he left office as president in November 2002, federal investigators investigated allegations that the company had overstated contracts to help him meet financial projections. Under an agreement reached in 2004, CA agreed to pay $ 225 million in restitution to shareholders and submit to the supervision of an independent examiner for 18 months.
Mr. Wang was not accused of irregularities in the case. His successor, Sanjay Kumar, pleaded guilty to federal charges related to CA accounting and was sentenced to 12 years in prison.
Broadcom
Inc.
agreed in July buy CA for $ 18.9 billion.
Mr. Wang was born on August 19, 1944 in Shanghai. When he was eight years old, his family emigrated to the United States and settled in New York. His father, who had been a judge in China, became a law professor, and his mother worked as a librarian. Mr. Wang earned a bachelor's degree in mathematics from Queens College and worked as a computer programmer before founding CA.
While running CA, he regularly played basketball with colleagues on a covered court at his home on the north shore of Long Island. He was less interested in hockey and had attended only one game before agreeing to join other investors to buy the islanders in 2000.
Later he founded a program to develop ice hockey in China. He was also the founder of Smile Train, a charity that offers free surgeries for lips and cleft palates, and was a major donor at Stony Brook University, which awarded him an honorary doctorate in 2015.
He is survived by his wife, Nancy Li, along with three children, three grandchildren, his mother and two brothers.
Write to James R. Hagerty in bob.hagerty@wsj.com
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