SAP Chief Executive Bill McDermott (left) will not extend his stay at the company after declining the opportunity to extend his contract.  

The departing CEO will be replaced by Jennifer Morgan and Christian Klien, who have been appointed Co-Chief Executive Officers with immediate effect.  

Chair of SAP’s Advisory Board, Professor Hasso Plattner, claimed the company “would not be what it is today” without Mr McDermott and that it was his leadership that “was a main driver of SAP’s transition to the cloud.”  

Mr McDermott, who initially joined SAP back in 2002, will remain at the company until the end of the year in an advisory capacity before taking up a new role at ServiceNow.  

“When you look at where we were and where we are, I simply could not be prouder of what this company has achieved over the past decade. I am thankfully for the opportunity to lead one of the world’s finest companies.” he said. 

Jennifer Morgan and Christian Klien both serve as SAP Executive Board Members. SAP says their appointment is activation of the company’s long-term succession plan.  

“Now is the moment for everyone to begin an exciting new chapter, and I am confident that Jennifer and Christian will do an outstanding job,” added Mr McDermott. “I look forward to supporting them as they finish 2019 and lay the foundation for 2020 and beyond. To every customer, partner, shareholder and colleague who invested their trust in SAP, I can only relay my heartfelt gratitude and enduring respect.” 

As part of her new appointment, Jennifer Morgan becomes SAP’s first female CEO – and the first of any company listed on the DAX Index. She first joined the company in 2004 and was the first female to join SAP’s Executive Board two years ago. Mr Klien, who started his career at SAP as a student some 20 years ago, most recently served as the company’s Chief Operating Officer, having also worked formally as Chief Controlling Officer.