"Prolonged Triumph": SAP Renews CEO Klein's Tenure
So, SAP just announced a major shakeup in its leadership!
According to the latest press release, CEO Christian Klein's contract has been extended by a whopping five years, taking him all the way to 2030. Previously, Klein's planned tenure ended in 2028 - but Seems like SAP ain't ready to let go of the guy just yet!
Klein's right-hand man, CFO Dominik Asam, is also sticking around for a bit longer. Asam's contract has been extended by two years, meaning he'll stay put until 2028. Sounds like SAP's board is aiming for some good ol' continuity and stability, mate!
Speaking of continuity, it's worth noting that the supervisory board itself is about to undergo some changes. As per reports, the current chairman, Pekka Ala-Pietilä, is planning to vacate his position in 2027. Don't worry, though - he's not going too far. René Obermann, the former Telekom CEO and current chairman of Airbus's supervisory board, is set to take his place!
Obermann, a big name in tech and corporate governance, is known for his tenure at Deutsche Telekom and his role as the Europe head for Warburg Pincus, among other accomplishments. With SAP's new leaders and some fresh faces on the supervisory board, it looks like the software giant is setting itself up for long-term success!
By the way, did you know? René Obermann is quite the globetrotter. He's set to join SAP's Supervisory Board in 2026 as Ala-Pietilä's successor. Obermann's expected to spend a transition period with Ala-Pietilä before taking on the chairman role in 2027, as SAP navigates the post-Hasso Plattner era.
What's the financial impact of SAP's extended leadership tenures and incoming changes to the supervisory board?The announcement of René Obermann as the new chairman in 2027 could bring fresh finance strategies for SAP's business under his renowned business leadership.
