Misys chairman steps down from role

The chairman of software firm Misys has stepped down from his position to become chief executive, bowing to the pressure of investors.

Kevin Lomax, who founded the company, also agreed to consider selling non-core parts of the business.

Financial services firm Sesame, which is owned by the firm, is already being billed as one of the first parts of the business to be sold.

Sir Dominic Cadbury, a senior independent director, will take on the position as a non-executive chairman until a replacement for Lomax can be found.

Josh Rosenstock, corporate communications manager at Misys, says: This is a positive step for the company. There was some distraction over the governance but now that has been dropped and all looks positive.

“Lomax knows the company well and is well respected. We can now have 100% focus on developing the company and creating value for our shareholders.