Shares in Micro Focus International PLC (s: UK:MCRO) dived 51% after the software company said Monday that Chief Executive Chris Hsu has resigned and warned that revenue for fiscal 2018 will fall more than previously anticipated. The British software group said that since it issued interim results on Jan. 8, revenue has declined more than it anticipated. It has cut its revenue guidance to a drop of 6% to 9%, from a fall of 2% to 4%. In addition, it said Hsu’s departure as CEO is effective immediately. He will be replaced by Stephen Murdoch, currently Chief Operating Officer at Micro Focus.
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