MARKET TALK: Sage's NEW CEO Signals Static Strategy

16th Jul 2010 08:09

0709 GMT [Dow Jones] Sage's (SGE.LN) promotion of its Europe and Asia boss, Guy Berruyer to the position of CEO, is a "strong appointment," and signals an unchanged strategy, Piper Jaffray says. "He brings significant experience, with a strong track record and we believe this confirms our existing view that a new CEO will not bring a change of strategy - this is positive news." Piper sees a smooth transition, with Berruyer assuming control in October and former CEO Paul Walker remaining with Sage till December. Overweight rating, 298p target. 3Q trading update due July 27. Shares flat at 242p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 16, 2010 03:09 ET (07:09 GMT)