– UK, Newbury – Micro Focus International plc (LSE: MCRO.L) announced the intention to transition back to the separate roles of Chairman and Chief Executive Officer over the following 12 to 24 months. In the prospectus issued on 8 October 2014 in respect of the Attachmate Group (“TAG”) acquisition, Micro Focus announced that this arrangement would be kept under continual review.
Today, Micro Focus is announcing changes to the Board to enable appropriate leadership and governance as the Group evolves its business to continue the delivery of significant returns to shareholders.
Kevin Loosemore will continue as Executive Chairman until at least April 2018 with responsibility for the delivery of strategy; the benefits to shareholders of the TAG acquisition; M&A activities and investor relations. He will also ensure an orderly transition of all executive responsibilities by that date.
Stephen Murdoch and Nils Brauckmann will join the Board effective 1 February 2016 as CEO of Micro Focus and CEO of SUSE respectively. Both will report to the Executive Chairman. Stephen Murdoch rejoins the Board having been a Director from April 2014 to November 2014.
Stephen Murdoch joined the Company in November 2012 and is currently Chief Operating Officer of Micro Focus. Murdoch has a 25 year track record of success in the IT industry spanning hardware, software and services. He has held senior executive positions in general management, sales and strategy with IBM and Dell. Most recently, he was the General Manager of Europe, Middle East & Africa for Dell’s Public Sector and Large Commercial Enterprise business unit.
Nils Brauckmann has been President and General Manager of SUSE since May 2011. Prior to this, Brauckmann gained more than 20 years of management and leadership experience in the IT industry serving in cross-functional and international management positions in companies such as WRQ (acquired by TAG in 2004), Novell and Siemens Nixdorf, where he started his technology career.
The Company also announces today that Steve Schuckenbrock will join the Board as an independent non-executive director on 1 February 2016. Schuckenbrock is Chief Executive at CROSSMARK, a leading sales and marketing services company. After more than 30 years of leadership experience in global companies such as Dell, EDS, PepsiCo, Frito-Lay and IBM, his expertise spans sales, marketing and technology. In his most recent role at Dell, Schuckenbrock served as President of Dell Services, and prior to that led Dell’s Large Enterprise Unit and served as the Chief Information Officer. Most recently, he served as the President and CEO of Accretive Health.
David Golob and Prescott Ashe, who have been representing Wizard on the Board since the TAG acquisition, have both agreed to step down from the Board on 1 February 2016 to enable the Board to have an appropriate balance of independent and non-independent directors. Wizard will retain the right to appoint one non-executive director to the Board under the terms of the Relationship Agreement signed at completion of the TAG acquisition provided they retain a shareholding of at least 15%. Wizard currently has a 26.7% shareholding in the Company. The Board thanks them for their contributions over the past year.
About Micro Focus
Micro Focus (LSE: MCRO.L) is a global enterprise software company supporting the technology needs and challenges of the Global 2000. Our solutions help organizations leverage existing IT investments, enterprise applications and emerging technologies to address complex, rapidly evolving business requirements while protecting corporate information at all times. Our Product Portfolios are Micro Focus and SUSE. Within Micro Focus our solution portfolios are COBOL Development and Mainframe Solutions, Host Connectivity, Identity and Access Security, IT Development and Operations Management Tools, and Collaboration and Networking.
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