October 11 - 08:10
107D
SAP CEO Bill McDermott steps down with immediate effect
SAP has today announced that its CEO, Bill McDermott has decided not to renew his contract, and is leaving with immediate effect. McDermott served as Chief Executive Officer for 9 years. SAP Executive Board members Jennifer Morgan and Christian Klein have been appointed co-CEOs. The reason for McDermott's departure is unclear. He will remain with the company as an advisor for the next two months.
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