SAP announced that Bill McDermott has decided not to renew his contract and is stepping down from his position as chief executive officer. In activating the company’s long-term succession plan, SAP Executive Board Members Jennifer Morgan and Christian Klein have been appointed co-chief executive officers, effective immediately, with the approval of the Supervisory Board of SAP SE. McDermott will remain in an advisory capacity until the end of the year to ensure a smooth transition Read the full announcement on www.sap.com.
“SAP would not be what it is today without Bill McDermott,” said Professor Hasso Plattner, chairman of the Supervisory Board of SAP SE. “Bill made invaluable contributions to this company and he was a main driver of SAP’s transition to the cloud, which will fuel our growth for many years to come. We thank him for everything he has done for SAP.
“Every CEO dreams of being able to transition a company to its next generation from a position of significant strength,” said McDermott. “When you look at where we were and where we are, I simply could not be prouder of what this company has achieved over the past decade. I am thankful for the opportunity to lead one of the world’s finest companies. Now is the moment for everyone to begin an exciting new chapter, and I am confident that Jennifer and Christian will do an outstanding job. I look forward to supporting them as they finish 2019 and lay the foundation for 2020 and beyond. To every customer, partner, shareholder and colleague who invested their trust in SAP, I can only relay my heartfelt gratitude and enduring respect.”
With the formal endorsement of the Supervisory Board, the company activates its leadership succession plan, designed to preserve continuity and empower its next-generation leaders in advance of the formal kickoff to calendar year 2020.
“As they have already demonstrated, Jennifer and Christian complement each other perfectly and will be strong co-CEOs, a leadership model that is time-tested at SAP with multiple prior instances of success.” Plattner added.
Morgan and Klein bring decades of experience in the enterprise applications software industry. Both serve on the Executive Board. Morgan, who joined SAP in 2004, most recently served as president of the Cloud Business Group, overseeing Qualtrics, SAP SuccessFactors, SAP Ariba, SAP Fieldglass, SAP Customer Experience and SAP Concur. She was named an Executive Board member in 2017.
"We are sad to see Bill go. He was a fantastic leader but it is also great to know who is taking the helm at SAP. Jennifer is a fantastic leader and will lead the organization with Chris in the right direction and keep building upon what Bill has built as a base over the last 10 years," added Christopher M. Carter, CEO of Approyo.
Read the full announcement at www.SAP.com