The CEO of Sage has decided to call time on a 17 year career at the software firm kicking off the process of trying to find someone to fill his shoes and continue to drive the company towards a subscription-based model.
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The firm has been growing its recurring revenues as a result of more subscription sales and the CEO Guy Berruyer, who will step down no later than the end of March next year, said that the business was in a good position.
Revenues for the first half improved from £626m last year to £657m with organic recurring revenues climbing to £472m but the level of software and related services turnover remained flat at £185m for H1.
Sage highlighted its efforts to move towards the cloud with subscriptions in the UK and Ireland for its Sage One SME hosted package increasing three-fold to hit 33,000 and there was also decent take-up in the mid-market for its ERP X3.
"Sage is changing, with greater focus, investment in technology to address customer needs and the move to subscription all delivering results. We remain confident that the good first half performance will be carried through to the full year, and of achieving our target of 6% organic revenue growth in 2015," said Berruyer.
His decision to step down after four years as CEO was described as a lifestyle choice, " life is about making choices, and at 63 years old I still have many things I want to achieve besides my executive career".
Donald Brydon, Sage board chairman, said that it understood why the CEO had made the decision and said the last few years had been positive ones for the firm: "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."