Bill McDermott was once a co-CEO of SAP, and so was his predecessor. The tradition continues as SAP looks to keep growing in cloud software.
McDermott acknowledged that SAP did invest extensively to get to where it is today.David A. Grogan | CNBC, made up his mind about whether he should keep the role for another five years, he sought advice from top executives at other companies.
, honoring a tradition of hiring from within at the 47-year-old German software company. A dual-CEO structure isn't very common in the corporate world, but McDermott himself was a co-CEO once, and as McDermott reminded reporters during a conference call about the news on Thursday, even SAP's founders were co-CEOs.
Until Thursday, Klein had been SAP's chief operating officer, and Morgan was head of the company's cloud business group. McDermott felt that the two of them were doing well in their roles."We have a philosophy of grooming our own," said McDermott, who joined SAP in 2002. "We have a very interesting culture. You have to understand our company. You have to understand the dynamism of the global economy.
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