SAP: McDermott to become sole CEO in 2014

Tom Paine

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SAP announced yesterday that Jim Hagemann Snabe has decided to step down as co-CEO as of May 2014. He will then join SAP's supervisory board, if 25% of shareholders approve. Snabe,47, said in a statement: “After more than 20 years with SAP, I have decided that it is time for me to begin the next phase of my career, closer to my family. What the entire SAP team has achieved since 2010 is remarkable, and the momentum we have built is now driving the transformation of the industry.”



This change will leave an American, Bill McDermott,51, as SAP's sole CEO for the time being, at least. McDermott has been based out of Newtown Square; SAP hasn't said whether this will continue to be the case. Perhaps SAP's next most important executive, Vishal Sikka, the board member responsible for technology and innovation, is based in Palo Alto, California. SAP is based in Walldorf, Germany.

Co-founder Hasso Plattner, who chairs SAP's supervisory board, has a stake of about 10 percent in the company and plays an important role in providing strategic guidance.


More information is expected from SAP in a conference call today.