The Globe and Mail reports in its Monday, March 30, edition that Mark Leonard will not stand for re-election to the board of Constellation Software, the company he founded and led until stepping down for health reasons last fall, at its next annual meeting on May 15. The Globe's Sean Silcoff writes that Constellation said Friday that Mr. Leonard, who is in his 60s, will remain an adviser, with "a particular focus" on supporting a new investment strategy adopted by the company. The new strategy that Mr. Leonard will help bring to fruition involves buying minority stakes in large companies. Its first such foray saw Constellation accumulate 12.7 per cent of the stock of publicly traded United States travel technology company Sabre over the last year. Sabre took measures to protect itself against an unwanted takeover in early March, but days later, the two companies struck a governance agreement that saw Sabre appoint a Constellation executive to its board. Some analysts have questioned that approach, concerned that Constellation may have limited influence with minority ownership of bigger companies than it has typically bought. Constellation's Mark Miller will be Mr. Leonard's successor as president.