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SAP CEO Leo Apotheker resigned on Feb. 7 after he and the SAP supervisory board "reached a mutual agreement" not to extend Apotheker’s contract as a member of the SAP executive board. SAP named Bill McDermott, head of SAP’s field organization, and Jim Hagermann Snabe, head of product development, as co-CEOs replacing Apotheker as sole CEO.
SAP is considered the definitive enterprise application provider, but even it couldn't escape the 2009 downturn. In the latest development, CEO Leo Apotheker has stepped down. eWeek reports:
SAP CEO Leo Apotheker has resigned after he and the SAP supervisory board “reached a mutual agreement” not to extend Apotheker’s contract as a member of the SAP executive board, the Germany-based software and services company announced on Feb. 7.
With his resignation, the SAP executive board appointed two co-CEOs, Bill McDermott, head of SAP’s field organization, and Jim Hagermann Snabe, head of product development, the company announced. Both men were already members of the SAP executive board. Apotheker resigned immediately from the executive board as well as CEO. Apotheker had worked at SAP for more than 20 years.
Furthermore, SAP appointed Vishal Sikka, chief technology officer, to the executive board and said that Hasso Plattner, SAP co-founder and chairman of the SAP supervisory board, will “continue to play a strong role in advising” the new co-CEOs on technology and product development.
Apotheker’s resignation comes as SAP remains locked in a fierce global market share battle with Oracle over the enterprise business applications that both companies develop and sell. These applications include accounting, financial management, general ledger, human resources and others that are the operational bedrock of all large enterprises.
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