Business software group SAP is adopting flexible working for its 100 000 employees around the world, after the experience of remote working during Covid-19 drew overwhelmingly positive feedback.
Browsing: Christian Klein
SAP says it is ready to lead customers into a cloud-based future, but it may need all its powers of persuasion to convince its 400 000-strong client base to launch a major overhaul of systems in a pandemic.
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.
Hasso Plattner, chairman of SAP, bought shares worth nearly €250-million in the German software company on Monday after a once-in-a-generation price slide triggered when management dumped its profit targets.
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.
On the night of 20 April, Christian Klein gained two major responsibilities. He became a father for the second time. And Klein was named sole CEO of SAP.
SAP co-CEO Jennifer Morgan, appointed in October to the top executive post alongside Christian Klein, will abruptly leave the German software company at the end of April.
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.