Accountancy software giant The Sage Group PLC (LON:SGE) is looking for a new chief executive officer (CEO) after Stephen Kelly stepped down from the role.
While the search for a successor is in progress, the chief financial officer, Steve Hare, will act as the chief operating officer on an interim basis; he will have full executive authority to run the business until the appointment of the new CEO.
READ: Sage Group cuts annual revenue guidance after first half misses expectations
Kelly’s departure came after a profit warning in April, with the group blaming “inconsistent operational execution” for the cut in full-year guidance.
Even the revised guidance was heavily caveated, with the group saying achieving it depended on closing a number of enterprise management opportunities before the end of the financial year, which runs to the end of September.
Sage continues to trade in line with previous full-year guidance of around 7% organic revenue growth and around 27.5% organic operating margin, the group said.