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SAP’s Snabe to Step Down in 2014, Mcdermott to Become Sole CEO

SAP co-CEO Jim Hagemann Snabe will leave his post in May 2014 to become a member of the enterprise software vendor’s supervisory board, leaving Bill McDermott as sole CEO. Snabe’s election to the board is dependent on the support of at least 25 percent of shareholders, SAP said on Sunday. “After more than 20 years with SAP, I have decided that it is time for me to begin the next phase of my career, closer to my family,” Snabe said in a statement. 

Read the source article at CIO.com


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