All change at Sage

Finance | 1 Jun 2007

The boardroom of Sage Group, the leading provider of financial software to the charity sector, has seen upheaval with the news that Sir Julian Horn-Smith has resigned as non-executive chairman and as a director after just eight months, citing differences in leadership style. Tony Hobson, a non-executive director, has become acting chairman while a replacement is sought, a process which has already begun.

In a statement, Horn-Smith said: "Sage is a truly outstanding company and it is with great regret that I have decided to leave. After careful consideration the board agreed that the differences in styles and culture meant that change was necessary. I felt that the best solution was for me to stand down as chairman."

Meanwhile, Sage has announced the acquisition of human resources, personnel and payroll management software provider Snowdrop Systems Limited for an enterprise value of £17 million. And it recently reported pre-tax profits of £574.7 million for year end March 2007, up 34 per cent.

Directory: Sage (UK) Limited

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