Sage appoints former Micro Focus boss Kelly as new CEO

LONDON (ShareCast) - Accounting software group Sage appointed former Micro Focus boss Stephen Kelly as successor to longstanding chief executive Guy Berruyer.

Kelly, who has most recently been head of efficiency and reform for the UK government, will take up the role from 5 November.

He said it was "a great time to be joining Sage".

As chief executive of FTSE 250-listed Micro Focus from 2006 to 2010 he oversaw a root-and-branch turnaround of the software developer's business, growing revenues from £140m to £450m from organic growth and acquisitions including Borland Software for $113m and Compuware for $80m.

He left the company unexpectedly for "personal reasons", with it being said that his relationship with the company's chairman was said to have "ran its course".

Prior to Micro Focus he was chief executive of growth-oriented Nasdaq-listed Chordiant Software from 2001 to 2005.

Sage chairman Donald Brydon said Kelly would add exceptional leadership skills and a track record of driving profitable growth.

"His experience in Europe and the USA in leading successful listed software companies and effective global teams will serve Sage well. He will join a strong executive team and will play the key role in driving forward our strategy and realising our growth ambitions, building on the well-founded platform established by Guy."

Sage said Kelly will receive a basic annual salary of £790,000 with a one-off PSP award of £987,500 with a six-year vesting period against demanding share return performance conditions.

Berruyer will remain available to support Kelly, as required, until the end of March 2015.

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