Tony Hobson is to step down as Chairman of accountancy software behemoth Sage at the beginning of September, to be succeeded by Donald Brydon, currently Chairman of medical devices maker Smiths Group.
Brydon, who is also Chairman of the Royal Mail Group, will join the board of Sage as a non-executive director on July 6th. Prior to that he will give up his seats on the boards of AXA Investment Managers SA and AXA Rosenberg LLP.
"Having recently overseen the transition to Guy Berruyer as Chief Executive, it is an appropriate time for me to pass the Chairmanship on," Hobson said.
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