Horn-Smith had only being in the position for 8 months.
In a statement to the stock exchange Sage said that Horn-Smith had resigned
with immediate effect, and would be replaced by non-executive director
Tony Hobson .
Hobson will fill the role until a new chairman is appointed.
Despite the surprise announcement Sage’s share price was virtually unchanged
and traded at around 263p this morning (Friday).
In a statement Horn-Smith said: ‘Sage is a truly outstanding company and it
is with great regret that I have decided to leave.
‘After careful consideration the board agreed that the differences in styles
and culture meant that change was necessary. I felt that the best solution was
for me to stand down as chairman. I wish the company every success in the
Hobson said Sage wished Horn-Smith well for the future and thanked him for
his contribution to the company.
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