Leo Apotheker's surprise resignation was announced on Sunday
R E L A T E D C O N T E N T
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SAP chief executive resigns
Angelica Mari,
Computing 08 Feb 2010
Software giant will be led by two top board executives
SAP chief executive officer Leo Apotheker resigned over the weekend by
“mutual consent” after a 20-year career at the software firm.
Apotheker will be replaced by head of field organisation Bill McDermott and
head of product development Jim Hagemann Snabe. Both managers already held board
positions.
The resignation is effective immediately, but Apotheker’s contract was to
expire at the end of 2010.
According to the Financial Times, one of the reasons for the
resignation is the company's delay in the introduction of a new online-based
platform for small and medium-sized companies.
Last month,
SAP
reported fourth-quarter revenue from software and software-related services
down 28 per cent to €2.48bn (£2.17bn) year on year, with total revenue down
eight per cent to 10.7 per cent.
The company underperformed in its second and third fiscal quarters and
expectations were lowered in the fourth quarter to reflect difficult market
conditions.
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