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UPDATE 1-Sage appoints government efficiency chief Kelly as CEO
August 6, 2014 / 7:46 AM / 3 years ago

UPDATE 1-Sage appoints government efficiency chief Kelly as CEO

(Adds pay details, shares)

LONDON, Aug 6 (Reuters) - Sage Group has appointed Stephen Kelly, the former boss of Micro Focus Intl who also led a British government efficiency drive, to replace Guy Berruyer as chief executive of the business software provider.

Kelly will take over on Nov. 5 when Berruyer will resign as a director, the British company said on Wednesday. Berruyer had already announced he intended to step down.

Kelly, who has also led NASDAQ-listed Chordiant Software, moved into the public sector in 2011 when Cabinet Minister Francis Maude appointed him to lead the efficiency and reform programme as well as promoting the interests of small and medium sized businesses.

Sage said Kelly would be paid a basic salary of 790,000 pounds ($1.33 million) and would participate in an annual bonus and share scheme on the same terms as his predecessor. He will receive a one-off performance-related share award worth 987,000 pounds with a six-year vesting period.

Shares in Sage, which have fallen 13 percent in the 13 weeks since Berruyer announced he would step down, were trading 2 percent higher at 375.5 pence at 0723 GMT. ($1 = 0.5932 British Pounds) (Reporting by Paul Sandle; editing by Neil Maidment and Tom Pfeiffer)

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