Bill McDermott is leaving his position as SAP SE CEO and will be replaced by executive board members Jennifer Morgan and Christian Klein who will take over as co-CEOs.
McDermott who joined SAP in 2002 has decided to not renew his contract, the company said. McDermott, however, will remain in advisory capacity until the yearend to ensure a smooth transition.
Morgan joined SAP in 2004 after overseeing Qualtrics, SAP SuccessFactors, SAP Ariba, SAP Fieldglass, SAP Customer Experience and SAP Concur as president of the Cloud Business Group. She was named an executive board member in 2017.
Klein was appointed to the executive board in 2018, but began his career at the company two decades ago while still a student. He was most recently the company’s COO, overseeing product development for the flagship ERP solution SAP S/4HANA.
“SAP has the most comprehensive solution portfolio in the industry,” Klein said. “We have an unprecedented opportunity to finish what we started and deliver the intelligent enterprise. This will be the best way to honor our predecessor, Bill McDermott. We will always strive to be leaders who bring out the best in people like Bill has always done.”
Morgan praised McDermott’s leadership, saying, “In Bill, we stand on the shoulders of a giant and look forward to building on his legacy of success.”