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Newcastle software group Sage has announced that chairman Sir Donald Brydon will step down next year.
Sir Donald has indicated that he will retire next September, by which time he will have been in post for nine years.
The company has set up a process to identity his successor, which will be led by senior independent director Drummond Hall.
A statement from Sage said: “When he steps down Sir Donald will have served as Sage’s chairman for nine years. His retirement aligns with the board succession plan and good corporate governance practice, including the UK Corporate Governance Code requirement for a chair to step down after nine years on the board.”
Sir Donald had a 20-year banking career with Barclays and also worked in a senior role at Axa Investment Managers. As well as his role at Sage, he has chaired the London Stock Exchange Group, Royal Mail, Smiths Group and the London Metal Exchange. He was knighted in 2019 for services to business and charity.
Two weeks ago, Sage announced that Paul Struthers had been appointed to lead its UK and Ireland team after the departure of Sabby Gill.
Mr Gill had led the company’s 2,000-strong UK and Ireland team for just under two years but is leaving for a new job.
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