(Alliance News) - Sage Group PLC on Thursday said Chair Donald Brydon is intending to step down in September 2021 after what will have been nine years on the board.
Brydon's retirement from the Newcastle Upon Tyne-based accounting software firm is in line with Sage's succession plan and with "good corporate governance practice, including the UK corporate governance code requirement for a chair to step down after nine years on the board."
Sage's nomination committee is to establish a process to identify and appoint Brydon's successor, led by Independent Director Drummond Hall.
Shares in Sage were down 0.2% at 757.48 pence in London on Thursday morning.
By Anna Farley; annafarley@alliancenews.com
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Sage Group (SGE)