In Christian Klein’s first year as sole CEO at SAP, the company’s shares had their worst performance in 12 years. The pandemic damaged sales. And he lost his co-CEO in a high-profile ouster.
Browsing: Bill McDermott
SAP said on Monday it was going all in on its shift to cloud computing as it abandoned medium-term profitability targets and cautioned that its business would take longer than expected to recover from the coronavirus pandemic.
SAP CEO Bill McDermott, who led Europe’s largest software company during a decade of rapid changes in the industry, is stepping down and will be replaced by Jennifer Morgan and Christian Klein as co-CEOs.
SAP raised its operating profit outlook for the year, bolstered by strong growth in its cloud business, as the German software maker pushes ahead with a major restructuring.
German software giant SAP and EOH affiliate company Twenty Third Century Systems have been accused of bribery to secure a multimillion-dollar software contract in Tanzania.
SAP has agreed to buy Callidus Software for about US$2.4bn to bolster a cloud-based business that grew strongly in the fourth quarter. SAP said it generated sales of €6.8bn in the period, in line with analysts’ expectations, on
SAP’s CEO, Bill McDermott, has lost an eye after a freak accident. McDermott, who said he will continue to lead the German business software giant, revealed in a Facebook post on Thursday that the accident happened in July, while he was visiting his father on his 76th birthday.
SAP, the world’s largest developer of business management software, believes Africa will be its fastest-growing market over the next five years and the company, which is headquartered in Germany, plans to pour money into the continent to ensure its business in key markets grows to US$1bn/year by 2017. SAP co-CEO