Newcastle-based software giant Sage Group, the UK’s largest listed tech company, announced on Thursday that Donald Brydon has indicated his intention to retire from his role as chairman in September 2021.

“When he steps down Sir Donald will have served as Sage’s chairman for nine years,” said Sage.

“His retirement aligns with the board succession plan and good corporate governance practice, including the UK Corporate Governance Code requirement for a chair to step down after nine years on the board.  

“The nomination committee will establish a process, led by the senior independent director Drummond Hall, to identify and appoint his successor in due course.”

Brydon is currently chairman of the Legacy Council of the Medical Research Council, recently chaired the London Stock Exchange, and is a past chairman of the Royal Mail plc, Smiths Group plc, the London Metal Exchange, Amersham plc, Taylor Nelson Sofres plc, the ifs School of Finance and EveryChild.

He also served as senior independent non-executive director of Allied Domecq plc and Scottish Power plc. 

Brydon had a 20-year career with Barclays Group, during which time he was chairman and CEO of BZW Investment Management and acting chief executive of BZW, followed by 15 years with the AXA Group, where he held the positions of chairman and chief executive of AXA Investment Managers and chairman of AXA Framlington.