Micro Focus CEO walks after a year in the job

Nigel Clifford, CEO at UK software player Micro Focus, has been given the heave-ho after just 12 months in the hot seat.

Nigel Clifford, CEO at UK software player Micro Focus, has been given the heave-ho after just 12 months in the hotseat.

Non-executive chairman Kevin Loosemore will take over the running of the company in a new role as executive chairman, while non-executive director David Maloney has been named deputy chairman.

In a brief statement this morning, Loosemore said the firm was "grateful to Nigel for his contribution to the company".

"My immediate priority is to devlier the year end in line with shareholder expectations," he said.

Micro Focus said there was no change to its previous financial guidance; full-year sales are expected to come in at between £264m and £270m with earnings of £97m to £102m.

A pre-close statement is expected on 12 May and full year prelims will follow on 23 June.

Micro Focus' latest boardroom shake-up, coupled with a recent profit warning, has already sparked concern among investors, with shares tumbling up to 16% this morning.

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