Opsware Financial Chief Resigns

Opsware(OPSW Quote - Cramer on OPSW - Stock Picks) Chief Financial Officer Sharlene Abrams resigned, following news that regulators plan a legal action against her related to her prior employment.

The IT automation software maker said late Wednesday that David F. Conte wil become chief financial officer; he was previously vice president of finance and corporate controller.

Abrams will remain with the company through Oct. 31.

Abrams previously served as CFO at Mercury Interactive(MERQ Quote - Cramer on MERQ - Stock Picks), which recently found discrepancies related to the so-called options backdating investigations that are rippling through Wall Street.

Last week, Opsware received a Wells Notice that the Securities and Exchange Commission's enforcement staff planned to recommend legal action against certain people, including Abrams, over its investigation into Mercury.

The pending charges do not involve Opsware, and the company originally said it had no plans to change Abrams' status. But an enforcement action against her could include an injunction preventing her from serving as an officer or director of a public company.