Sage chairman to retire in September 2021

Software firm Sage revealed on Thursday that long-time chairman Donald Brydon had informed the board of his intention to retire.

Brydon will step down from the position in September 2021, by which time he will have been in the role for nine years.

The FTSE 250-listed group said Brydon's retirement aligned with the board's succession plan and good corporate governance practice, including the UK Corporate Governance Code requirement for a chair to step down after nine years.

Sage added that its Nomination Committee would establish a process, led by senior independent director Drummond Hall, aimed at identifying and appointing Brydon's successor in due course.

As of 0845 BST, Sage shares were up 0.053% at 759.0p.