TechnologySage CEO takes £20m payout

Sage CEO takes £20m payout

Outgoing Sage CEO Paul Walker cashes in more than £20m in shares

Outgoing chief executive of software company Sage will walk away with an
estimated £21m payout.

Paul Walker, departing CEO who steps down after more than 16 years, will walk
away a long term bonus plan and a year’s salary
The
Daily Mail
reported.

Walker initially joined the company in 1984 as an accountant before taking on
the finance director role in 1987 and becoming chief executive in 1994.

Analysts in the City claim it’s time for a change and the company is in need
of “fresh blood” as things have gone “stale” at Sage.

In the company’s annual results posted in September 2009 sales fell 4% to
£1.44b. However, the company grew its customer based by 245,000 in the same
period.

Analysts warn Walkers replacement will need to keep an eye on the competition
and the software industry as online products gain greater user backing.

Paul Harrison, group finance director, and Paul Stobart, head of the UK and
Irish division, are seen as the front runners to succeed Walker.

Further reading:

Sage
chief Walker to step down after 16 years

Sage’s
stock “undervalued”

Related Articles

Navigating the changing landscape of UK business at Sage Summit UK

Accounting Software Navigating the changing landscape of UK business at Sage Summit UK

9m Emma Smith, Managing Editor
Digital platform launched to reveal how a business is viewed externally

Company News Digital platform launched to reveal how a business is viewed externally

1y Acccountancy Age
BDO's 'agility' makes it well placed to succeed - Eagland

Accounting Firms BDO's 'agility' makes it well placed to succeed - Eagland

1y Kevin Reed, Writer
Xero launches global partner programme expansion

Accounting Software Xero launches global partner programme expansion

1y Stephanie Wix, Writer
CIMA: Accountants confident robots won't take their jobs

Technology CIMA: Accountants confident robots won't take their jobs

1y Accountancy Age, Reporters
Sage hit by client data breach

Accounting Software Sage hit by client data breach

1y Richard Crump, Writer
What accountancy firms can learn from the gaming industry

Accounting Software What accountancy firms can learn from the gaming industry

1y Accountancy Age comment
Taking Stock: Xero sings to the tune of frustrated SME owners

Accounting Software Taking Stock: Xero sings to the tune of frustrated SME owners

1y Taking Stock