Although this will not really affect the SAP Business One world... We got this today, so it is probably to late to sell stock and buy back after the drop.
Dear Valued Partner,
I'm writing with some important news about the leadership of SAP.
Bill McDermott has decided it's time to pursue his next chapter and is stepping down from his position as Chief Executive Officer. Activating the company's long-term succession plan, Executive Board members Jennifer Morgan and Christian Klein have been appointed Co-Chief Executive Officers, effective immediately. Bill will remain in an advisory capacity until the end of the year to ensure a smooth transition.
SAP would not be what it is today without Bill McDermott. He made invaluable contributions to this company and we thank him for everything he has done for SAP.
We congratulate Jennifer and Christian on their new roles, which will build on SAP's long and successful track record of Co-CEOs. They bring decades of experience in the enterprise applications software industry and both serve on the company's Executive Board.
Jennifer joined SAP in 2004 and was most recently President of SAP's Cloud Business Group, overseeing Qualtrics, SAP SuccessFactors, SAP Ariba, SAP Fieldglass, SAP Customer Experience and SAP Concur.
Christian started his career at SAP and most recently served as the company's Chief Operating Officer, also overseeing product development for the flagship ERP solution, SAP S/4HANA. Previously, he worked as SAP SuccessFactors' Chief Financial Officer and as SAP's Chief Controlling Officer.
Chairman Hasso Plattner and Bill made the decision over a year ago to expand Jennifer and Christian's roles as part of a long-term process to develop them as our next generation leaders. As a result, we expect a seamless transition and a high degree of continuity.
As always, our joint customers will continue to be our highest priority and we greatly value your partnership.
Please let us know if you have any questions about this news.
Sincerely,
Greg
Greg Petraetis
Senior Vice President and General Manager, Midmarket and Partner Ecosystem, SAP America, Inc.
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Gary Feldman
President
I-Business Network, LLC
Marietta GA
6786270646 x224
http://www.i-bn.com/------------------------------