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Sage said on Thursday that, following a review of its North American business, it had concluded that a change in leadership was required to realise the full potential of this business. Ron Verni (CEO, North America) and Jim Eckstaedt (Chief Financial Officer, North America) subsequently left Sage North America with immediate effect. Mr Verni also resigned as a director of the Sage Board. Messrs Verni and Eckstaedt formed part of the North American head office team.

Sage’s North American business is organised into four operating divisions, each under the direction of an executive team. The group said that this senior management structure will remain in place, now reporting directly to Paul Walker, Chief Executive of Sage, until a new regional CEO is appointed.

Andrew Griffith, Group Director of Treasury and Mergers & Acquisitions, formerly Group Financial Controller, will be acting Chief Financial Officer, North America, with immediate effect, located in Sage North America’s office in California. Sage confirmed that the process to recruit a new regional chief executive officer and regional chief financial officer is underway.

"Sage in North America is a strong and competitive business with market-leading brand names. The Board remains confident about the opportunities to develop this business and to deliver further growth going forward," Sage said in a statement.

The Sage Group plc (LON:SGE), a leading global supplier of business management software solutions, Sage reported that it expects results for the full year ended 30 September 2007 to be in line with market consensus.

Group revenues for the year are expected to be £1,158m, compared to £892m in 2006, and earnings before interest, tax and amortisation (EBITA) will be approximately £283m, compared to £239m in 2006. Organic revenue growth for the year will be approximately 7 per cent.

 
Full details of Sage’s financial performance for the year will be provided in the preliminary results announcement on 28 November 2007.

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