DJ DGAP-Adhoc: SAP SE: SAP sets course for the future with next generation leadership team
DGAP-Ad-hoc: SAP SE / Key word(s): Personnel
SAP SE: SAP sets course for the future with next generation leadership team
11-Oct-2019 / 00:44 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
*SAP SETS COURSE FOR THE FUTURE WITH NEXT GENERATION LEADERSHIP TEAM*
? *McDermott to depart following successful decade as CEO*
? *Morgan, Klein to become Co-CEOs*
SAP SE (NYSE: SAP) today 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, Executive
Board members Jennifer Morgan and Christian Klein have been appointed
Co-Chief Executive Officers, effective immediately, with the approval of the
Supervisory Board. McDermott will remain in an advisory capacity until the
end of the year to ensure a smooth transition.
Phone: +49 6227 7-44872
Information and Explanation of the Issuer to this News:
'SAP would not be what it is today without Bill McDermott,' said Professor
Hasso Plattner, Chairman of the Supervisory Board. '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. We also congratulate Jennifer and
Christian for this opportunity to build on the strong foundation we have for
the future of SAP. Bill and I made the decision over a year ago to expand
Jennifer and Christian's roles as part of a long-term process to develop
them as our next generation of leaders. We are confident in their vision and
capabilities as we take SAP to its next phase of growth and innovation.'
'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
McDermott joined SAP in 2002. As head of North America, SAP was able to
significantly increase its market share in the region, putting SAP on its
path to becoming a global powerhouse. He eventually led customer operations
worldwide and joined the Executive Board in 2008. For the past decade,
McDermott has served as CEO and has overseen a period of dramatic growth for
SAP, including expanding its portfolio and initiating a major shift to cloud
computing. Under McDermott's leadership, key metrics including market value,
revenue, profits, employee engagement and environmental sustainability have
all strengthened substantially since 2010.
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
'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
Morgan and Klein bring decades of experience in the enterprise applications
software industry. Both serve on the company's Executive Board. Morgan, who
joined SAP in 2004, most recently served as President of SAP's 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.
Morgan said, 'I could not be more grateful to Hasso Plattner and the
Supervisory Board for placing their trust in me and Christian to lead this
next chapter for SAP. We accept the challenge with a high degree of
humility, but also with a sincere belief that the best is yet to come for
SAP. We have the finest, most talented colleagues in the world who give us
so much confidence in the road ahead. Bill McDermott has been not only a
tremendous leader, but a mentor and a role model for so many of us. In Bill,
we stand on the shoulders of a giant and look forward to building on his
legacy of success.'
Klein, who started his career at SAP two decades ago as a student, most
recently served as the company's Chief Operating Officer, also overseeing
product development for the flagship ERP solution, SAP S/4HANA. Previously,
he worked as SAP SuccessFactors' Chief Financial Officer and as SAP's Chief
Controlling Officer. Klein was appointed to the Executive Board in 2018.
Klein said, 'As someone who began my career in the halls of SAP, this is the
highest honor I can imagine to become Co-CEO together with Jennifer. Hasso
Plattner has given us a tremendous opportunity and we are truly thankful to
him and the Supervisory Board. SAP has the most comprehensive solutions
portfolio in the industry. We have an unprecedented opportunity to finish
what we started and deliver the intelligent enterprise. This will be the
best way to honor our predecessor Bill McDermott. We will always strive to
be leaders who bring out the best in people like Bill has always done.'
In a separate news release, SAP also reported its Q3 business results
earlier, highlighting strong double-digit revenue and profit growth and
significant margin expansion.
SAP will host a conference call regarding this announcement for media and
analysts on October 11, 2019, at 8:00 a.m. CET ( 2:00 a.m. ET / 11pm PT on
October 10). The call will be available to international callers at +44
(0)330 336 9107, to U.S. callers at +1 646 828 8156, conference code:
6731312, and via webcast at https://broadcast.co.sap.com/go/investor . A
replay will be provided later at http://www.sap.com/investor .
Visit the SAP News Center .Follow SAP on Twitter at @sapnews .
As the Experience Company powered by the Intelligent Enterprise, SAP is the
market leader in enterprise application software, helping companies of all
sizes and in all industries run at their best: 77% of the world's
transaction revenue touches an SAP(R) system. Our machine learning, Internet
of Things (IoT), and advanced analytics technologies help turn customers'
businesses into intelligent enterprises. SAP helps give people and
organizations deep business insight and fosters collaboration that helps
them stay ahead of their competition. We simplify technology for companies
so they can consume our software the way they want - without disruption. Our
end-to-end suite of applications and services enables more than 437,000
business and public customers to operate profitably, adapt continuously, and
make a difference. With a global network of customers, partners, employees,
and thought leaders, SAP helps the world run better and improve people's
lives. For more information, visit www.sap.com .
# # #
Any statements contained in this document that are not historical facts are
forward-looking statements as defined in the U.S. Private Securities
Litigation Reform Act of 1995. Words such as 'anticipate,' 'believe,'
'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'project,'
'predict,' 'should' and 'will' and similar expressions as they relate to SAP
are intended to identify such forward-looking statements. SAP undertakes no
obligation to publicly update or revise any forward-looking statements. All
forward-looking statements are subject to various risks and uncertainties
that could cause actual results to differ materially from expectations. The
factors that could affect SAP's future financial results are discussed more
fully in SAP's filings with the U.S. Securities and Exchange Commission
('SEC'), including SAP's most recent Annual Report on Form 20-F filed with
the SEC. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of their dates.
(c) 2019 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their
respective logos are trademarks or registered trademarks of SAP SE in
Germany and other countries. Please see https://www.sap.com/copyright 
for additional trademark information and notices.
*Note to editors:*
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*For customers interested in learning more about SAP products: *
Global Customer Center: +49 180 534-34-24
United States Only: 1 800-872-1SAP (1-800-872-1727)
*For more information, press only:*
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(MORE TO FOLLOW) Dow Jones Newswires
October 10, 2019 18:44 ET ( 22:44 GMT)
11-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Company: SAP SE
Phone: +49 (0)6227 - 74 74 74
Fax: +49 (0)6227 - 75 75 75
Indices: DAX, TecDAX
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard),
Stuttgart; Regulated Unofficial Market in Dusseldorf, Hamburg,
Hanover, Munich, Tradegate Exchange; NYSE
EQS News ID: 888623
End of Announcement DGAP News Service
888623 11-Oct-2019 CET/CEST
(END) Dow Jones Newswires
October 10, 2019 18:44 ET ( 22:44 GMT)
DGAP-Adhoc: SAP SE: SAP sets course for the -2-
| Quelle: Dow Jones Newsw... | Lesedauer etwa 9 min. | Text vorlesen Stop Pause Fortsetzen
|Long||DC40MK||SAP Wave L 101 2019/12 (DBK)||7,200|
|Short||DS7LAJ||SAP WaveUnlimited S 132.7612 (DBK)||7,027|
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