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by David R. Brousell, MA Editorial Staff
Posted on Thursday, October 11, 2007 4:30:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Top corporate executive attributes management shuffle to May reorganization of businesses, though upcoming financial report will show organic growth in NA region lagging other areas. |
Saying that a reorganization in May required a different skill set in its executive ranks, Sage Group plc today said that its North American chief executive and chief financial officers have left the company. Sage CEO Ron Verni and CFO James Eckstaedt left following a board review of Sage's North American business. In a financial trading update, also announced today, Sage said that it expected North American organic revenue growth for the fiscal year ended Sept. 30, 2007, to come in at only 4%, below all of Sage's other geographic regions. But in a conference call with European press this morning, Sage Group Chief Executive Paul Walker attributed the departure of the two executives to a reorganization of Sage's North American operations in May into four divisions. On May 9, Sage announced that it was forming the Business Management Division, encompassing accounting, ERP, CRM, and related businesses for small and medium-size companies, and the Industry & Specialized Solutions Division, for construction, real estate, and non-profit companies. [Click to continue] |
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