SAP Announces New Co-CEO, Resignation of Board Member

Mar 29, 2007

On the heels of a law suit from Oracle and two quarterly earnings misses, SAP AG announced a major executive reshuffling.

On the heels of an explosive law suit from Oracle and two quarterly earnings misses, SAP AG announced on March 28 a major executive reshuffling that includes the resignation of Shai Agassi, the executive board member in charge of application development as president of the Product and Technology Group.

The company also announced Leo Apotheker, president of Customer Solutions & Operations, will assume the new role of Deputy CEO, effective immediately.

Considered a wunderkind of sorts, Agassi joined SAP in 2001 when SAP acquired his company, TopTier. He quickly moved up the ranks and was appointed, in April 2002, to the SAP's executive board. He was the first non-German member of the company's board.

In a statement released on the afternoon of March 28, SAP said Agassi, by mutual agreement with the company, will leave to "more quickly commit himself to his personal agenda of environmental policy and alternative energy sources, and other issues."

During his tenure at SAP, Agassi really drove the company's platform strategy, including the development of NetWeaver and mySAP ERP, SAP's next-generation application suite announced last year.

He was also seen as heir apparent, in line with Apotheker, to take the CEO helm when Henning Kagermann's contract expires in 2009.

Copyright 2007 by Ziff Davis Media, Distributed by United Press International

Explore further: Alibaba surges in Wall Street debut (Update)

add to favorites email to friend print save as pdf

Related Stories

US hosts talks to save oceans under 'siege'

Jun 15, 2014

US Secretary of State John Kerry launches an unprecedented global effort Monday to save the world's oceans under siege from overfishing, climate change and pollution.

BlackBerry revenue falls below a $1 billion (Update)

Mar 28, 2014

BlackBerry reported a steep drop in profit and revenue Friday as it transitions from a smartphone company to a software business under its new chief executive. Shares rose five percent in morning trading ...

BlackBerry posts 3Q loss of $4.4B (Update)

Dec 20, 2013

BlackBerry reported a massive $4.4 billion loss in the third quarter and a 56 percent drop in revenue in its first quarterly report under new chairman and chief executive John Chen.

Recommended for you

Alibaba makes Wall Street debut

Sep 19, 2014

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

Sep 19, 2014

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

Sep 19, 2014

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0