UPDATE 1-LogicaCMG CEO to retire early after profit warning
(adds detail, background)
LONDON, May 27 (Reuters) - Anglo-Dutch software services company LogicaCMG (LOG.L) said on Sunday the firm's Chief Executive Martin Read would bring forward his retirement plans following the firm's recent profit warning.
LogicaCMG said Read would stay until a successor had been found.
"In the light of the unsettling speculation following the company's recent trading update, Martin Read has decided to accelerate his retirement plans," LogicaCMG said in a statement.
Shares in the company dropped 13 percent on Tuesday after it blamed problems with its UK business for a profit warning.
Read, 57, took control of the London and Amsterdam based firm in 1993. Since then, the firm has grown from a 3,000 person company centred on text messaging technology, to a global IT services provider with 40,000 employees.
The firm said it had started the search for Read's replacement and would consider external and internal candidates.
((Reporting by Marc Jones, editing by Sue Thomas; Reuters Messaging: marc.jones.reuters.com@reuters.net; tel +44 20 7542 2861)) Keywords: LOGICACMG CHIEF EXECUTIVE/
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