Stock Market News
Sage appoints former Micro Focus boss Kelly as new CEO
06-08-2014 07:38
Add To Google +1 | Tweet |
Accounting software group Sage appointed former Micro Focus boss Stephen Kelly as successor to longstanding chief executive Guy Berruyer.
Kelly, who has most recently been head of efficiency and reform for the UK government, will take up the role from 5 November.
He said it was "a great time to be joining Sage".
As chief executive of FTSE 250-listed Micro Focus from 2006 to 2010 he oversaw a root-and-branch turnaround of the software developer's business, growing revenues from £140m to £450m from organic growth and acquisitions including Borland Software for $113m and Compuware for $80m.
He left the company unexpectedly for "personal reasons", with it being said that his relationship with the company's chairman was said to have "ran its course".
Prior to Micro Focus he was chief executive of growth-oriented Nasdaq-listed Chordiant Software from 2001 to 2005.
Sage chairman Donald Brydon said Kelly would add exceptional leadership skills and a track record of driving profitable growth.
"His experience in Europe and the USA in leading successful listed software companies and effective global teams will serve Sage well. He will join a strong executive team and will play the key role in driving forward our strategy and realising our growth ambitions, building on the well-founded platform established by Guy."
Sage said Kelly will receive a basic annual salary of £790,000 with a one-off PSP award of £987,500 with a six-year vesting period against demanding share return performance conditions.
Berruyer will remain available to support Kelly, as required, until the end of March 2015.
OH
Kelly, who has most recently been head of efficiency and reform for the UK government, will take up the role from 5 November.
He said it was "a great time to be joining Sage".
As chief executive of FTSE 250-listed Micro Focus from 2006 to 2010 he oversaw a root-and-branch turnaround of the software developer's business, growing revenues from £140m to £450m from organic growth and acquisitions including Borland Software for $113m and Compuware for $80m.
He left the company unexpectedly for "personal reasons", with it being said that his relationship with the company's chairman was said to have "ran its course".
Prior to Micro Focus he was chief executive of growth-oriented Nasdaq-listed Chordiant Software from 2001 to 2005.
Sage chairman Donald Brydon said Kelly would add exceptional leadership skills and a track record of driving profitable growth.
"His experience in Europe and the USA in leading successful listed software companies and effective global teams will serve Sage well. He will join a strong executive team and will play the key role in driving forward our strategy and realising our growth ambitions, building on the well-founded platform established by Guy."
Sage said Kelly will receive a basic annual salary of £790,000 with a one-off PSP award of £987,500 with a six-year vesting period against demanding share return performance conditions.
Berruyer will remain available to support Kelly, as required, until the end of March 2015.
OH
Related share prices |
---|
Sage Group (SGE) share price |
Stock News is provided by Digital Look Corporate Solutions from Sharecast news. Please read the terms and conditions of useage of this data. Republication or redistribution of content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Digital Look Ltd.
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- RBS share price
- Diageo share price
- Standard Life Share Price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- Morrisons Share Price
- Aviva Share Price
- LGO Share price
- Tullow Oil Share Price
- SXX Share Price
- Easyjet Share Price
- Next Share Price
- Thomas Cook Share Price
- SSE Share Price
- IAG Share Price
- Bat share price
- Monitise Share Price
- Kingfisher share price
- Dragon Oil share price
- UKOG share price
- SOLG share price