SAP AG Adopts Co-CEO Structure
SAP AG, the multinational software development and consulting company, has officially announced that L o Apotheker has resigned as CEO and will cease to be a member of the SAP Executive Board. According to the press release the decision is ‘effective immediately’ and comes after a mutual agreement not to extend his contract as a member of the SAP Executive Board (SEB).
The company has returned to the ‘co-CEO’ structure by appointing Bill McDermott (head of field organization) and Jim Hagemann Snabe (head of product development), who are also members of the SEB.
Vishal Sikka, CTO, has been appointed to the SAP Executive Board and at the request of the SAP Supervisory Board (SSB), Hasso Plattner, co-founder of SAP and chairman of the SSB, will continue to play a role in advising the new leaders on technology and product development.
According to Plattner, "The new setup of the SAP Executive Board will allow SAP to better align product innovation with customer needs. The new leadership team will continue to drive forward SAP’s strategy and focus on profitable growth, and will deliver its innovations in 2010 to expand SAP’s leadership of the business software market," said Hasso Plattner.
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