THE CHIEF executive of CPP Group, Eric Woolley, is to step down at the end of the month.

The group announced this morning that Mr Woolley has indicated his desire to step down as chief executive after eight years of service Paul Stobart, former chief executive of Sage Northern Europe, part of Sage Group plc, will step into the position on October 1 following a comprehensive search process. There will be a two week handover from Mr Woolley, who will continue to be available for consultation for a further six months.

Mr Stobart qualified as a chartered accountant with Price Waterhouse and spent five years in corporate finance with Hill Samuel before joining Interbrand, an international marketing services consultancy, in 1988. He joined Sage in 1996 as business development director, to then become managing director of UK & Ireland in June 2003 before being appointed chief executive officer of Sage Northern Europe in January 2011.

Charles Gregson, chairman of CPP Group plc, said: “Paul has an excellent track record and brings significant, relevant experience to CPP following his 15 years at Sage. He understands the mechanics of a customer-focused, high service business and his very strong financial and operational background will be of great value to the group.

"The board also wishes to express its sincere appreciation to Eric for his work over the past eight years, including leading the business to a successful listing on the London Stock Exchange. We wish him every success for the future."

Paul Stobart said: "I am delighted and excited to be joining CPP at such an important stage in its development as a successful and growing international business and am looking forward enormously to working with Charles and the CPP team."