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SAP CEO Apotheker Unexpectedly Quits

Leo Apotheker's Contract Will Not Be Extended Based on Mutual Agreement

SAP AG announced late Sunday that the SAP Supervisory Board has reached a mutual agreement with CEO Leo Apotheker not to extend his contract as a member of the SAP Executive Board.

The company press release on Sunday read as follows:

"Leo Apotheker has resigned as CEO and member of the SAP Executive Board effective immediately.

"The SAP Executive Board, in agreement with the SAP Supervisory Board, has appointed two Co-CEOs: Bill McDermott, head of field organization and Jim Hagemann Snabe, head of product development, both already members of the SAP Executive Board.

"In addition, Vishal Sikka, Chief Technology Officer, has been appointed to the SAP Executive Board. At the request of the SAP Supervisory Board, Hasso Plattner, Co-Founder of SAP and Chairman of the SAP Supervisory Board, will continue to play a strong role in advising the new leaders on technology and product development.

"The new setup of the SAP Executive Board will allow SAP to better align product innovation with customer needs. The new leadership team will continue to drive forward SAP's strategy and focus on profitable growth, and will deliver its innovations in 2010 to expand SAP's leadership of the business software market," said Hasso Plattner.

"The SAP Supervisory Board thanks Leo Apotheker for his enormous contribution to the success of SAP, which he joined more than 20 years ago, and wishes him all the best for the future.

"The Company will host a call for media and analysts tomorrow, Monday February 8, 2010 at 2:30 pm CET /8:30 am EST. The call will be webcast live on the Company's website (www.sap.com)"

More Stories By Fuat Kircaali

Fuat Kircaali is the founder and chairman of SYS-CON Media, Cloud Expo, Inc. and Ulitzer, Inc.

Kircaali came to the United States from Zurich University, Switzerland in 1984 while studying for his PhD, to design computer systems for SH-2G submarine hunter helicopters for the U.S. Navy. He later worked at IBM's IS&CG Headquarters as a market research analyst under Mike Armstrong's leadership, an IBM executive who later ran IBM Europe and AT&T; and Fuat was the Director of Information Systems for UWCC, reporting to CEO Steve Silk (later Hebrew National CEO), one of the top marketing geniuses of the past two decades.

Kircaali founded SYS-CON Media in 1994, a privately held tech media company with sales exceeding $100 million. SYS-CON Media was listed twice by Inc 500 and Deloitte and Touche as one of the fastest-growing companies in North America. Kircaali launched Ulitzer, Inc., a revolutionary "new media" start-up in mid 2009.

Fuat completed Bogazici University Business Administration program in 1982 with a Bachelor's Degree. He was one of 50 students accepted to the program out of over 1 million high school graduates that year.

http://twitter.com/fuatkircaali

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