SAP Announces New Co-CEO, Resignation of Board Member
On the heels of a law suit from Oracle and two quarterly earnings misses, SAP AG announced a major executive reshuffling.On the heels of an explosive law suit from Oracle and two quarterly earnings misses, SAP AG announced on March 28 a major executive reshuffling that includes the resignation of Shai Agassi, the executive board member in charge of application development as president of the Product and Technology Group. The company also announced Leo Apotheker, president of Customer Solutions & Operations, will assume the new role of Deputy CEO, effective immediately.
Considered a wunderkind of sorts, Agassi joined SAP in 2001 when SAP acquired his company, TopTier. He quickly moved up the ranks and was appointed, in April 2002, to the SAPs executive board. He was the first non-German member of the companys board.