In a recent announcement, the CEO of SAP- Bill McDermott, revealed that he will be retiring from his position as the CEO of German software giant SAP. He will be replaced by Jennifer Morgan and Christian Klein who will jointly serve as the CEOs of the company. McDermott will continue to serve on the board as the financial advisor till the end of this year. The 58 year old Bill was the first American to hold this top executive position along with SAP’s founder, HassoPlattner.
“SAP would not be what it is today without Bill McDermott. Bill made invaluable contributions to this company and he was a main driver of SAP’s transition to the cloud, which will fuel our growth for many years to come. We thank him for everything he has done for SAP. We also congratulate Jennifer and Christian for this opportunity to build on the strong foundation we have for the future of SAP,” said HassoPlattner in the light of the news of McDermott’s retirement as CEO.
SAP was founded in 1972 in Germany with the intent of innovating enterprise software for businesses to manage operations. It has offices all over the world along with multiple subsidiaries like SuccessFactors, Qualtrics, SAP Concur, SAP Ariba and more.