Micro Focus CEO Tony Hill Resigns

London -- Micro Focus, a U.K.-based software firm, announced that
CEO Tony Hill will resign and step down from the board. Acting
chairman Kevin Loosemore will take over as CEO until Hill's
replacement can be found. The news arrives just after the
company lowered its guidance for the year. "This update on trading
is very disappointing, but we are determined to rebuild momentum
and deliver on our commitment to sales execution," Loosemore
said. "The company remains profitable and strongly cash
generative, which provides a solid base for the future."
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