Jim Wadia resigns
New York: Soon after the announcement of the arbitration award that split up Arthur Andersen, the accounting major, and its consulting twin, Andersen Consulting, Mr. Jim Wadia, managing partner of Arthur Andersen submitted his resignation.

Mr. Wadia denied that his resignation was a sign that Arthur Andersen was defeated in the bitter battle with its sibling. Although he admitted "it could be read that way", he said that he was going because it was a logical time for him to go. He had taken over in 1997 as a "tough negotiator" in the ongoing battle with Andersen Consulting.
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Computer Associates promotes Sanjay Kumar
New York: Leading US-based software provider, Computer Associates, announced that Mr. Sanjay Kumar, who held the position of president and chief operating officer, has been promoted to the post of chief executive officer. He assumes the position from Mr. Charles Wang, the founder, who will continue on as chairman of the New York-based firm.

In other announcements made the company announced that Ms. Nanacy Li, the chief technology officer of the company, will take over as chief executive officer of iCan-ASP, the new outfit formed by the company by spinning off its ASP infrastructure business.
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Athens stock exchange to get new head
Athens: The Athens stock exchange, which was successfully floated last month, despite being controlled by the state, has got a new head. Mr. Panayotis Alexakis, a professor of finance at the Athens University, has been appointed chairman. He takes over from Mr. Spyros Kouniakis who submitted his resignation several months ago.

Mr. Alexakis is already chairman of the fledgling Athens derivatives market, launched under his supervision one year ago. As head of both exchanges he will be responsible for implementing new legislation aimed at improving transparency and efficiency on the main market, as well as introducing new derivatives products.

One of his first tasks at the exchange will be to ensure that the stock exchange makes an early changeover to the single currency, given the fact that Greece is due to join the euro-zone next January. As a result, transactions will take place in euros from next year, well before the demise of the drachma in January 2002, with the aim of preparing the Greek exchange for developing closer relations with bigger European markets.
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