Misys has appointed Mike Lawrie as group chief executive following the resignation of Kevin Lomax earlier this month, effective from November 1.
Lawrie was previously a general partner with San Francisco-based private investment firm ValueAct Capital. Prior to this he was chief executive of Siebel Systems, the international software and solutions company, from 2004 to 2005.
He spent 27 years with IBM where he eventually become senior vice president and group executive, sales and distribution.
Lawrie is investing £500,000 of his own money in shares in Misys and his base salary will be £550,000 a year, subject to annual review.
He will have a maximum annual bonus opportunity of up to 200 per cent of salary, which will be pro-rated for the first year in line with the employment period. His bonus for the financial year of appointment will be based on group operating profit.
Misys chairman Sir Dominic Cadbury says: “We are extremely pleased to have
secured someone of Mike’s calibre who brings with him both software and
services expertise and a substantial track record. His significant experience
of refocusing international organisations and driving operational excellence
across complex businesses will be invaluable to take Misys forward.”
Lawrie says: “I am very excited to be joining Misys and taking on the challenge of returning it to levels of sustained growth and success. Misys is very well established in its markets, has a great range of valuable products,
an enviable client list and a very talented workforce. My task will be to
leverage these assets and provide strategic direction to help the company drive value for shareholders, customers and employees.”