Micro Focus Plc, the London and Mountain View-based based Cobol specialist, whose shares have quadrupled in just two years, suffered a setback this week as its chief financial officer, Anthony Muller, resigned. He is set to join another, unnamed rapidly growing public company, an official statement said. Muller was brought on board in September 1996 by the then chief executive, Marcelo Gumicio, who himself resigned for health reasons six months ago, triggering speculation at the time that Muller would follow. Although he only joined Micro Focus a year and a half ago, Muller has been a credible and enthusiastic spokesperson for the company, and his departure has caused the share price to dip 40 pence to 2550 pence. It is believed that Muller was unhappy with the share options limit imposed upon the company by its UK institutional shareholders; equivalent US companies being substantially more generous in this department. Muller hasn’t been at Micro Focus long enough to build up a substantial shareholding, and he is thought to be moving to a company in which he has a more significant equity interest. The company expects to announce a replacement for Muller in the next couple of months, and the timetable for the final results presentation remains unchanged at March 4th.
