He replaces Ira Zar, who was forced to resign last October along with two other senior financial executives when an internal investigation by the board of directors' audit committee confirmed that in 2000 $1 billion in revenues had been prematurely recognized, a practice that has allegedly been habitual at the company.

One of those other men, former senior VP of Finance Lloyd Silverstein, subsequently pleaded guilty to obstruction of justice and is cooperating with the authorities.

With its reputation in the gutter, its debt rated junk and the SEC threatening to drag it into court, CA needed a Mother Theresa to come in and rehabilitate it. Clarke was evidently as close as they could get.

Clarke, a DEC veteran involved in the Compaq-DEC merger, was named CFO of Compaq in 2001 not long before HP bought the place. It was widely assumed that integrating the two companies would defeat the merger. Brilliant preparation proved convention wisdom wrong and the integration team was able to trim $3.5 billion post-merger.

When the acquisition closed in May of 2002 HP kept its incumbent CFO Bob Wayman and Clarke was made executive vice-president of global operation, a newly created title. That put him in charge of the company's supply chain, customer-to-cash and logistics, now reportedly a $50-billion-a-year procurement operation. He left late last year.

HP was believed to regard Clarke, 42, as a rising star who was being kept on ice against the day Wayman hung up his spurs.

VP of communications Suzette Stephens, HP CEO Carly Fiorina's personal PR person, resigned at the same time. It is believed both Clarke and Stephens left because of their personal relationship.

To get the CA job, Clarke passed the inspection of the chairman of CA's audit committee who is responsible for the on-going internal probe.

In an introductory phone call to Wall Street Thursday morning Clarke, who apparently had a choice of jobs, said, "Everybody was very forthright with me both at the board level and the management team. I have not had a chance to look at all the books. I have done due diligence for most of the public documents."

He spoke of adding "rigor to the process" and, given CA's long history of acquisitions, was sure his experience would come in handy though it's evidently not contemplating anything big. It hardly can under the circumstances.

He said he aims to "communicate the company."

Interim CFO Douglas Robinson will become senior VP of finance, reporting to Clarke.

• CA to Remove its General Counsel from Government Probe