Sage chief executive to step down

Financial software giant makes Stock Market announcement of Paul Walker's intention to stand down

Stepping down: Paul Walker is to leave Sage after 26 years

Sage chief executive Paul Walker is to leave the software vendor after 16 years at the helm.

The software giant made an announcement to the London Stock Exchange this morning which said: "In the light of recent press comment, The Board of the Sage Group plc, confirms that Paul Walker, chief executive, has advised the Board of his intention to stand down from the company in due course."

The announcement said he had worked at Sage for 26 years, with 16 of those as chief executive.

There was no clue as to when he would leave the company, but the statement said: "Paul and the Board will work to ensure a seamless transition and the Board will make a further announcement at the appropriate time."