Looks as if Guy Berruyer will no longer be driving the bus at Sage. His retirement “no later than March 2015” was announced today alongside Sage’s half-year earnings report which appeared to show declining statutory revenues across most key areas of the company.
The Sage Group plc (“Sage”) announces that after 17 years with the company, Guy Berruyer has indicated to the Board his wish to retire as Chief Executive and from executive life no later than 31 March 2015. The Board has begun the process to appoint his successor.
Donald Brydon, Chairman, said: “The Board understands the reasons that have led Guy to his decision and thanks him for his service to Sage. During his four years as Chief Executive Guy has set the company on a new path to growth, clarified the strategy and ensured performance against publicly communicated objectives. He will leave Sage in good shape for his successor with a strong team in place. The Board appreciates the flexibility in timing that Guy has offered the company and is focused on finding the right successor.”
Guy said “Being CEO of Sage is a role I have relished, leading a group of people I am very proud of. I am extremely pleased with all we have achieved since I joined the company 17 years ago and I’m satisfied that Sage is well positioned for an exciting future.
But life is about making choices, and at 63 years old I still have many things I want to achieve besides my executive career. As Sage progresses successfully towards our strategic milestones for 2015, I have decided that the time is right to begin to hand over the reins to a new Chief Executive.”
The financial arrangements, which will adhere to the rules of all relevant incentive schemes and be within the Remuneration Policy, will be reported when Guy steps down.