Punit Renjen, the former global CEO at Deloitte, is set to replace Hasso Plattner as the new SAP chairman.
Prof. Dr. Hasso Plattner, who co-founded SAP in 1972 with Dietmar Hopp, Claus Wellenreuther, Klaus Tschira, and Hans-Werner Hector, is the only remaining founder still involved in an operational role at the German software company and will retire from his position at the end of his current term. His departure heralds another new era for SAP which will be confirmed at the company’s AGM in May this year.
Hasso Plattner retires as SAP Chairman
Commenting on the announcement, Plattner said: “We are excited to propose Punit Renjen as a new member of the SAP Supervisory Board for a four-year term at the AGM in May 2023. This initiates a structured transition at the helm of the Supervisory Board, ensuring the continuity necessary for our company’s ongoing growth. With extensive experience as a highly successful CEO of one of the world’s largest consulting firms, Punit brings valuable insights and expertise to the board. His deep understanding of our customers’ needs, and the broader industry make him an ideal candidate for Chairman of the Supervisory Board from 2024 onwards.”
Renjen served as Deloitte Global CEO from 2015 until his retirement on December 31, 2022. As Global CEO, Renjen developed and executed a strategy that resulted in Deloitte revenues growing from $35 billion to more than $59 billion in just seven years. Today, Deloitte is the leading professional services organization in the world and one of the world’s best places to work. Deloitte employs 415,000 people in 150 countries. Deloitte also has a thriving partner ecosystem, of which SAP has been part of for over 30 years.
“I am very pleased to be considered for a role at SAP – an iconic company with a key role in the global economy,” said Renjen. “At a time when the company is successfully transforming into an enterprise application leader in the cloud and delivering on Hasso Plattner’s original vision of helping the world run better and improving people’s lives, I could not be more excited at the opportunity to help shape the future of a company that has unmatched relevance for global business. I am looking forward to working with talented colleagues around the world to ensure the company continues to help its customers solve their most pressing problems”.
SAP’s shares rose slightly on the news, up 1.2 percent this morning, indicating that investors were not entirely surprised by Plattner’s departure. Plattner owns a 6.16 percent stake in SAP which is currently worth €8.23bn euros and said he would remain committed to the company as an “investor with an unchanged stake”.