LogicaCMG rises on appointment of Andy Green as new CEO
09 October 2007 | 4220 views | 0
Shares in LogicaCMG jumped 6.8% on news that the Dutch-Anglo computing group has appointed Andy Green, head of strategy and operations at BT, as its new chief executive.
Green's appointment comes after a five-month search by LogicaCMG for a new CEO to replace Martin Read, who handed in his notice in May after 14 years at the group.
Shares in LogicaCMG leapt 10.26 pence on the new to 161.5 pence in early trading, marking the largest rise in the group's stock since January 2004.
Green, 52, will start on 1 January.
He is widely admired in the City as one of the key architects behind the success of BT's Global Services operation.
Analysts believe his international experience will help LogicaCMG seek out new opportunities, after suffering from shrinking margins in its core French and UK operations.