Micro Focus loses CFO

Posted by admin in Career Ladder on Tue, 29/06/2010 - 10:10
bray.jpg

 Nick Bray, CFO at software firm Micro Focus, has quit, announcing that he is in talks to join one of the company's rivals. 

“My skill set has always been suited as an FD,” said Bray. “I see where we are now [at Micro Focus] as the end of a chapter. I couldn’t commit to the medium-term and felt I needed to let them know.”

The departure of Bray, who joined Micro Focus in 2005, is the second senior executive defection in recent months, coming only nine months after former chief executive Stephen Kelly left, overshadowed better-than-expected results.
 
Bray was overlooked for the top job in favour of Nigel Clifford, who took over in April. "We are disappointed he's leaving," said Chairman Kevin Loosemore.

The Bottom Line:If Mr Cable has his way...

"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more

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