Social Icons

Thứ Hai, 22 tháng 7, 2013

SAP Plans to Stick with Single CEO - Wall Street Journal

@ a< href="">Sap RSS News

FRANKFURT--Business software company SAP AG (SAP.XE) Monday said it plans to have Bill McDermott serve as sole chief executive officer as of next spring when co-CEO Jim Hagemann Snabe switches to the supervisory board, saying that a co-CEO model only works under particular conditions.

"(The co-CEO structure) only works in certain circumstances with certain people," SAP supervisory chairman Hasso Plattner said a day after the company announced that Mr. Snabe would leave his post next May, effectively ending the dual-CEO structure.

Mr. McDermott, appointed co-CEO alongside Mr. Snabe in 2010, will serve as CEO from next May until 2017, when his contract expires. He indicated he could also stay longer.

"I have no intention to head to the beach in 2017," Mr. McDermott said. Should SAP's supervisory board want him to stay on, that is a possibility.

Although Mr. Snabe's contract was also dated to 2017, Mr. Plattner said Mr. Snabe made it clear in 2010 that it was unlikely he'd stay for the duration of the term. Mr. Snabe originally wanted to stay for four years, Mr. Plattner said.

The company late on Sunday said Mr. Snabe aims to move to the supervisory board next May, a proposal subject to support by at least 25% of shareholders. Mr. Plattner said the supervisory board would not be expanded beyond the current 16 members, but that Mr. Snabe will replace someone if the move is approved.

Write to Sarah Sloat at

Subribe Sap Feeds

Không có nhận xét nào:

Đăng nhận xét


Sample text

Sample Text

Sample Text