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Ray J. Noorda, chief executive officer and board chairman of Novell Inc., was honored Tuesday by Financial World magazine as one of 12 recipients of the publication's 1992 CEO of the Year Silver Award.

The award was presented at a banquet Tuesday evening at the Waldorf-Astoria Hotel in New York City.Noorda was chosen from an initial list of 2,841 chief executives nationwide. That list was narrowed to 186 Bronze Award winners by peers and securities analysts. Research directors from Wall Street's largest investment firms selected the Silver Award winners in 12 categories.

Noorda was named the winner in the electronics category.

In 1991, Norda was named the nation's top computer executive by Computer Reseller News.