Status: 02/23/2023 09:59 am
After more than 20 years, Hasso Plattner intends to give up his position as Chairman of the SAP Supervisory Board by May 2024 at the latest. Plattner co-founded the software company over 50 years ago.
The last SAP founder will leave the Walldorf software group by 2024 at the latest. SAP announced that Hasso Plattner will step down from his position as chairman of the supervisory board, which he has held for 20 years. Plattner suggested the former boss of the auditing and management consulting firm Deloitte, Punit Renjen, as his successor.
The 61-year-old Renjen, who gave up the management of Deloitte at the turn of the year, is to be elected to the supervisory board on May 11 for four years. “An election to the SAP Supervisory Board would start the transition process from Hasso Plattner to Punit Renjen,” SAP said. SAP left it open how long this would take. Plattner’s term of office runs until May 2024.
“Structured Transition”
Plattner was re-elected for two years last year against the opposition of shareholder representatives. The 79-year-old founded SAP in 1972 together with Dietmar Hopp, Claus Wellenreuther, Klaus Tschira and Hans-Werner Hector. When he was re-elected, he had promised to present a successor at least six months before the end of his term.
On Wednesday, Plattner spoke of a “structured transition at the top of the Supervisory Board, which will ensure the necessary continuity for the further growth of our company”. Renjen should take over the chairmanship of the supervisory board “from 2024”. Born in India, he lives in the US state of Oregon.
3000 jobs will be cut
The DAX heavyweight announced at the end of January that it would cut 3,000 jobs, around 200 of them in Germany. SAP wants to focus on its core business with software for corporate management (ERP), it said. Last year, 2022, SAP’s net profit was only around 1.7 billion euros, significantly less than market observers had previously expected.