Misys chairman admits 'substantial problems' - papers 5 Oct

Misys was left looking for a new chief executive after Kevin Lomax resigned from the post on Monday in the wake of his failed attempt to take the group private. But Sir Dominic Cadbury, chairman and interim chief executive, yesterday defended the board’s decision to consider the takeover approach, says the paper. “We were right to let the process go ahead. We felt there was a possibility of an attractive offer,” he said. He also effectively ruled out a proposed management walk-in, under which three former executives would have taken top roles at Misys in exchange for a possible 2% of th...