|By Maureen O'Gara||
|December 13, 2012 05:30 AM EST||
After a six-month search, CA Technologies, one of the biggest American software companies, has hired Michael Gregoire, the former CEO of Taleo, the cloud-based talent management ISV that Oracle bought in April for $1.9 million, to replace its retiring CEO Bill McCracken next year.
McCracken, 70, will leave the board on January 7 and formally retire March 31.
Gregoire, 46, will start as CEO on January 7. He is credited with overseeing Taleo’s revenues boom from $78 million to $324 million. It went public in 2005.
Gregoire hails from PeopleSoft, also bought by Oracle, and did 12 years at EDS, which HP bought.
He will get a salary of a million dollars a year and could qualify for an annual cash bonus of 150% of his base salary, as well as a long-term incentive performance award of at least $5.5 million.
He’ll get a sign-on equity grant of $3 million in stock options and $2 million in restricted stock, which will vest over time.
CA is paying him an additional signing bonus of $500,000 to help cover his relocation to New York.
McCracken, who was CA’s chairman, replaced John Swainson when he was bounced in 2009. Swainson is now president of Dell Software.
McCracken’s got a consulting contract with CA that runs until next December.
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