On February 7, 2010 SAP announced that the SAP Supervisory Board has reached a mutual agreement with CEO Léo Apotheker not to extend his contract as a member of the SAP Executive Board. Léo Apotheker has resigned as CEO and member of the SAP Executive Board effective immediately.
The SAP Executive Board, in agreement with the SAP Supervisory Board, has appointed two Co-CEOs: Bill McDermott, head of field organization and Jim Hagemann Snabe, head of product development, both already members of the SAP Executive Board. In addition, Vishal Sikka, Chief Technology Officer, has been appointed to the SAP Executive Board.
The Company hosted a call for media and analysts on Monday February 8, 2010. Access the webcast replay.
Originally posted in the SAP Newsroom on February 7, 2010.