Sage announces a restructuring after Europe boss quits

Steve Dinneen
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Accountancy software firm Sage Group said yesterday it will reorganise its business into three distinct regions – Europe, North America and Asia, Australia, Middle East and Africa (AAMEA) – following the news that Northern Europe chief executive Paul Stobart (pictured) intends to leave the firm.

Álvaro Ramírez, chief executive of the firm’s Southern Europe division, will assume responsibility for the whole of Europe with immediate effect. It is not clear when a replacement will be named.

The group’s interim results for the six months ending 31 March will be reported under the new structure on 4 May.

Its half-year results are expected to continue the positive trend seen in its first-quarter. The firm says a recovery in spending by small businesses continued this year after it returned to revenue growth for the first time since 2007 in the final quarter of 2010.