GBST announced that Stephen Lake announced the board that he intends to retire as managing director and chief executive officer of GBST. As part of the company's succession plan he will be fully involved in selection of a successor and handing over his responsibilities. Mr. Lake will leave the company during 2016, when the handover to the new CEO is completed.

Mr. Lake was appointed managing director and chief executive officer of GBST in 2001, and he helped drive the transition to a public company when GBST floated in 2005.