Sage Group: CEO Stephen Kelly stepping down, opening an obvious period of uncertainty
Sage Group: (BUY, Fair Value 820p (+38%))CEO Stephen Kelly stepping down, opening an obvious period of uncertainty
On Friday last week, Sage announced its CEO Stephen Kelly, who arrived in 2014, stepped down from his position. The share price fell 8% on the back of this news which took investors by surprise. This obviously opens a period of uncertainty pending the appointment of the next CEO, but we deem Sage is on the right track since most of the transformation to a cloud model has been done, while the next CEO will have to be used to embedding sustainable processes at scale.
Sage Group is a technology provider that assists to manage businesses of all sizes. Co. provides a suite of cloud business management solutions and services including accounting, financials, enterprise management, people, payroll, payments and banking, as well as marketplace apps that can be provisioned to match the exact needs of any business. Co. has three reportable segments in which it operates, being Northern Europe (the U.K. and Ireland), Central and Southern Europe (Germany, Switzerland, Poland, France and Portugal) and NorthAmerica (the U.S., Canada and North America Intacct).
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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