SAP CEO Steps Down

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SAP CEO Steps Down
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SAP said CEO Bill McDermott wouldn’t seek another term and is being replaced in the role with immediate effect

German business-software giant SAP SE Thursday said Chief Executive Bill McDermott wouldn’t seek another term and is being replaced in the role with immediate effect. SAP named Jennifer Morgan and Christian Klein to serve as co-CEOs.

Mr. McDermott will act as an adviser until the end of the year.
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