The coronavirus pandemic introduced a six-month experiment in dual leadership at SAP to a vague end because the German business software group named Christian Klein as its single CEO to offer clarity to its 400,000 clients.
Klein will assume full responsibility while Jennifer Morgan, who was appointed alongside him last autumn to jointly run the world’s biggest enterprise software program firm, will leave on April 30.
American Morgan became the first woman CEO of a blue-chip German firm but her tenure was cut short by the sudden economic downturn that struck in March as coronavirus spread around the globe.
The statement further carried a strong private endorsement of Klein by SAP’s co-founder and chairperson, Hasso Plattner, who stated he had “complete confidence in Christian’s business vision and ability.”
Plattner, 76, exerts influence at SAP that far exceeds his 6% stake, and his support for Klein represents a return to SAP’s German roots after the company took on a more American flavor throughout New Yorker Bill McDermott’s decade in charge.
SAP confirmed results pre-released on April 8, when it posted a 1% achieve in quarterly operating earnings and cut its estimation for earnings to show an expected plunge this year of between 1% and 6%.
Finance chief Luka Mucic stated demand would decline in Q2; however, he anticipated improvement from the third quarter as governments gradually elevate lockdowns that have damaged economic activity.