Text of official SAP press bulletin. SAP sponsors The Social Customer, ed.
WALLDORF, Germany - February 07, 2010 - SAP AG (NYSE:
SAP) announced today that the SAP Supervisory Board has reached a
mutual agreement with CEO Léo Apotheker not to extend his contract as a
member of the SAP Executive Board. Léo Apotheker has resigned as CEO
and member of the SAP Executive Board effective immediately.
The SAP Executive Board, in agreement with the SAP Supervisory
Board, has appointed two Co-CEOs: Bill McDermott, head of field
organization and Jim Hagemann Snabe, head of product development, both
already members of the SAP Executive Board.
In addition, Vishal
Sikka, Chief Technology Officer, has been appointed to the SAP
Executive Board. At the request of the SAP Supervisory Board, Hasso
Plattner, Co-Founder of SAP and Chairman of the SAP Supervisory Board,
will continue to play a strong role in advising the new leaders on
technology and product development.
“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.
The SAP Supervisory Board thanks
Léo Apotheker for his enormous contribution to the success of SAP,
which he joined more than 20 years ago, and wishes him all the best for
the future.
The Company will host a call for media and analysts
tomorrow, Monday February 8, 2010 at 2:30 pm CET /8:30 am EST. The call
will be webcast live on the Company’s website (www.sap.com)