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IT

SAP announces departure of CEO McDermott and replacement by Morgan and Klein as co-CEOs

Friday 11 October 2019 | 09:30 CET | News

SAP has announced that CEO Bill McDermott is stepping down. The company said that it has activated its succession plan and is appointing members of the executive board Jennifer Morgan and Christian Klein to succeed him as co-chief executive officers. 

McDermott will remain at SAP in an advisory capacity until the end of the year to enable a smooth transition, the company said. He has been chief executive officer at SAP for the past ten years, leading the company towards a major shift to cloud computing, and expanding its portfolio. Key metrics such as market value, revenue, profits, employee engagement and environmental sustainability have been reinforced under his tenure, it said.

McDermott joined SAP in 2008 as the head of North America operations. The firm increased its market share in the region at the time. Then, he led customer operations worldwide and joined the executive board of the company in 2008.  

Morgan joined SAP in 2004 and most recently served as president of the Cloud Business Group, overseeing Qualtrics, SAP SuccessFactors, SAP Ariba, SAP Fieldglass, SAP Customer Experience and SAP Concur. She was named member of the executive board in 2017. 

Klein started his career at SAP two decades ago as a student. He recently served as chief operating officer, also overseeing product development for the flagship ERP solution SAP S/4HANA. Before that, he worked as SAP SuccessFactors chief financial officer and as SAP chief controlling officer. Klein was appointed to the executive board in 2018.



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Categories: IT
Companies: SAP
Countries: Germany / World
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