08 Feb 2010
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.
Have your say on this article
Newsletters
Latest stories from Management
Latest videos
You may also like
Management jobs
Do you think the G-Cloud will be a success?
Rubbish in... rubbish enterprise. Why proper data management is so important (video, 6 min)
This Forrester report compares the costs and benefits of legacy email and productivity software with Google Apps
Upcoming Events
Join us to meet other professionals tackling this issue, and hear from Goy Roper, interim head of ICT of Norfolk County Council how his organisation deployed a flexible and intelligent network to cope with the challenge
Date: 07 Mar 2012
Time: 9am
The implementation of robust, relevant digital strategies is more crucial than ever to the success of insurance businesses
Date: 01 Mar 2012
Time: 09:00am
Receive the latest jobs direct to your inbox
Are you being paid what you are worth?
