Uproar at Misys as shareholders demand that Lomax steps down

Shareholders are flexing their muscles and this, after so long as quite lambs, is good to see. Let us hope it does not go to their heads.

Onésimo Alvarez-Moro

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Kevin Lomax, the chairman and chief executive of IT group Misys, is facing calls for his resignation from shareholders angered by the poor performance of the company and the perceived arrogance of Mr Lomax.

Their unhappiness with the former lieutenant to Lord Hanson, who founded the company over 25 years ago, has been voiced in meetings that Misys has been having with leading shareholders in the past few days.

The meetings have involved Mr Lomax and the senior non-executive director, Sir Dominic Cadbury. Sir Dominic's brother, Sir Adrian, wrote the original report on corporate governance, 15 years ago, which prompted the debate on splitting the chairman and chief executive roles.

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