- Push-out Score determined
- After almost 10 years in the position
- Accolades, praise and thanks for McDermott
- Jennifer Morgan and Christian Klein taking over
- McDermott said 127 words
(exechange) — Walldorf, Germany, October 10, 2019 — Bill McDermott, chief executive of SAP, leaves. As announced by SAP SE in a news release on Thursday, October 10, 2019, William R. (Bill) McDermott leaves his post as chief executive officer at the software company after almost 10 years in the role, effective immediately.
Bill McDermott’s duties as CEO will be taken over by Jennifer Morgan and Christian Klein, most recently president of the Cloud Business Group (Morgan); and chief operating officer (Klein) of SAP SE, as co-chief executive officers.
“Decided not to renew his contract”
A reason for Bill McDermott’s departure from the CEO post was not explicitly provided. SAP said: “Bill McDermott has decided not to renew his contract and is stepping down from his position as chief executive officer. In activating the company’s long-term succession plan, SAP Executive Board Members Jennifer Morgan and Christian Klein have been appointed co-chief executive officers, effective immediately, with the approval of the Supervisory Board of SAP SE.”
Precise information regarding Bill McDermott’s future plans was not immediately available.
Share price decline
The announcement follows a decline in SAP SE’s share price of 16% since July 2019.
Chaired by Hasso Plattner
SAP SE is chaired by Hasso Plattner.
Hasso Plattner is one of the founders of SAP and has been Chairman of the Supervisory Board since May 2003.
In the position of CEO since 2010
Bill McDermott became CEO of the Company in February 2010.
McDermott will remain in an advisory capacity until the end of the year to ensure a smooth transition.
Bill McDermott was previously chief executive officer of SAP, the world’s business software market leader from 2010 until 2019.
He led the company’s more than 98,000 employees and more than 2 million-person ecosystem in executing SAP’s vision to help the world run better and improve peoples’ lives.
Since becoming CEO in 2010, Bill McDermott’s innovation-led strategy for SAP has resulted in expansive increases in customers, total revenue, market value and profitable growth.
One of the most popular leaders in business, Bill McDermott’s approval rating from SAP employees on the Glassdoor website hovers around 99 percent.
As the only American in history to lead Europe’s most valuable technology company, Bill McDermott advises world leaders and policymakers on issues including youth unemployment, digital government and international trade policy.
He is a member of the European Roundtable of Industrialists and the U.S. Business Council.
Bill McDermott also serves on the boards of directors for performance apparel maker Under Armour; engineering software maker ANSYS, Inc.; and security solutions leader Dell SecureWorks.
He has received numerous awards for his civic leadership, including GENYOUth’s Vanguard Award, City Year’s Idealist of the Year, the We Are Family Foundation’s Visionary Award and the Children’s Aid Society’s Promise Award.
He is a proud supporter of Thomas Jefferson University Hospital and Jefferson Health.
His life stories and leadership lessons are shared in Bill McDermott’s worldwide best-selling autobiography, “Winners Dream: A Journey from Corner Store to Corner Office.”
The book is now in its 12th printing and was awarded the gold medal for business memoir of the year in 2014.
It has been published in the U.S., United Kingdom, Germany, and China.
Bill McDermott resides in Germany, the U.S., and, most frequently, at 39,000 feet.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to SAP and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 41.2019 ($).