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Microsaic said Glenn Tracey would be stepping down as chief executive officer at the company's next annual general meeting to pursue a non-competitive opportunity.
The Company would shortly therefore commence a formal process to identify and appoint a successor CEO.
Pending this appointment and to support the orderly handover in due course, Gerry Brandon, non-executive chairman, would temporarily play a 'more active' role in the running of Microsaic's business.