Hare has been with Sage for almost five years, having joined the board as CFO in January 2014. He was then appointed as interim COO in August after Stephen Kelly left his role as CEO.
He will combine his duties as CFO and CEO while the company finds a replacement CFO. He will also continue to lead the Executive Committee.
A chartered accountant, Hare trained with Ernst & Whinney (an EY predecessor firm) and has since held various senior roles in including as finance director of FTSE 100 and 250 companies, and in private equity.
“I continue to believe that by putting our customers, our people and innovation at the heart of everything we do, we will succeed in our journey to becoming a great SaaS [software as a service] business,” said Hare.
In his new role Hare will earn £770,000 per year, along with a bonus and other incentives in line with the current directors’ remuneration policy.