SAP CEO Unexpectedly Resigns

SAP unexpectedly announced the immediate resignation of CEO Leo Apotheker, February 7, 2010.  Bill McDermott, current head of the field organization, and Jim Hagemann Snabe, current head of product development, will serve as co-CEOs.

SAP CEO Apotheker Unexpectedly Ousted
Co-CEOs Bill McDermott and Jim Hagemann Snabe Named

February 7, 2010    
    
CEO of the the world's largest business software company, SAP, suddenly resigns and two current execs named to serve as co-CEOs.  Bill McDermott, current head of SAP's field organization, and Jim Hagemann Snabe, current head of product development, have assumed the co-CEO responsibilities.  SAP’s supervisory board decided not to extend Apotheker’s contract, which would have expired at the end of this year.

Apotheker's departure comes less than a year as sole CEO of SAP.  He was co-CEO with longtime top executive Henning Kagermann and had been on the SAP Executive Board since 2002.  His brief tenure at the top was with controversy, including a public battle over maintenance and support contracts, delays of the "ByDesign" software-as-a-service, and a publicized disagreement with Gartner over its SAP BusinessObjects Magic Quadrant ranking.  All during a time of dismal financial performance.  Software license revenue was down 28 percent in 2009, after rising for years and total revenue fell 8 percent to 10.67 billion euros.

SAP Press Release Read

 
 
 

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