The CEO of SAP is stepping down, and his replacements signal a new willingness to compete with Salesforce and Workday in the cloud
simply click here to claim your deal and get access to all exclusive Business Insider PRIME content.The abrupt announcement didn't give a reason for his departure, but SAP says that McDermott will stay on as an advisor through the end of the year.
McDermott will be replaced by two members of the SAP executive team — Jennifer Morgan, president of the company's cloud business group, and chief operating officer Christian Klein, the company said Thursday. Morgan and Klein will take the title of co-CEOs. In a statement, Hasso Plattner, chairman of SAP's supervisory board, praised McDermott's "invaluable contributions to this company," noting that "he was a main driver of SAP's transition to the cloud, which will fuel our growth for many years to come."SAP is one of the dominant players in the market for enterprise software used by businesses, including the world's largest corporations, to manage their operations.
That has been a challenging transition for companies like SAP as it faces cloud-based rivals such as Salesforce and Workday.Adaire Fox-Martin, a member of the SAP executive team, told Business Insider in August
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