Barrenechea, 41, joined CA in 2003 after holding a variety of posts at Oracle Corp. He will become a director at Garnett & Helfrich, located in Menlo Park, Calif., on June 19, he said.

Terry Garnett, managing director of the firm, said in a statement that Barrenechea brings an "ideal combination of senior operating experience and financial transaction skills..."

CA spokesman Dan Kaferle said Barrenechea's last day will be June 16, which gives the company time to plan a smooth transition. CA is already reviewing internal and external candidates, Kaferle said. "Mark Barrenechea made significant contributions to CA over the last three years, with a strong emphasis on product vision, strategy and innovation," he said. "We thank him for his outstanding service and wish him well in his new position."

In an interview, Barrenechea said his arrival at CA and his departure had no connection with the company's accounting scandal or the recent decision by former CEO Sanjay Kumar to plead guilty to federal charges stemming from that scandal.

"CA has incredible opportunities in front of her," Barrenechea said Wednesday. "I also feel for myself that I'm reaching a stage in my career where I want to apply 84 quarters of operating experience for creating a portfolio of standalone companies."