New Sage boss shakes up management
Thursday 02 December 2010
The new chief executive of the blue-chip IT group Sage has made his mark on the company with a top-level shake-up just two months into the job.
Guy Berruyer, who was promoted at the start of October, said yesterday that the head of the North American business was leaving as he unveiled his new-look management line-up. He said: "Sage has management strength in depth and I am delighted not only to leverage the experience of our current executives but also to bring through a new generation of leaders." This came as the group reported a 20 per cent rise in profits for the year.
Sue Swenson, the president and chief executive of Sage North America since 2008, will retire next year and will be replaced by Pascal Houillon, who is head its France division. Roger Phillips, an analyst at Evolution, said the move was "positive" because the US "continues to underperform and the City was never impressed".
George O'Connor, an analyst at Panmure Gordon, was less effusive, saying of Mr Houillon's appointment: "Goodness only knows what the Americans will make of that."
Among other changes, Paul Stobart, the head of Sage UK and Ireland, who had been expected to leave after Mr Berruyer beat him to the chief executive's job, will take on the wider responsibility for northern Europe. "My new team better reflects the international and entrepreneurial nature of the business," Mr Berruyer added.
Sage said its annual pre-tax profits had risen by 20 per cent to £320m, despite revenues staying flat at £1.4bn. and small businesses were buying more software. Mr Berruyer said that while Sage had been hit by the recession later than larger companies, "we are seeing signs of more optimism".
Jo from Northern Ireland was less than impressed by Russell Brand's attempt to stage a publicity stunt
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Shock poll shows voters believe Ukip is to the left of the Tories
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
New era of cheap oil 'will destroy green revolution'
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
iJobs Money & Business
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...
$125 - $175 per annum: Carlton Senior Appointments: Senior Wealth Manager In...
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...