SAP has nominated Punit Renjen as the new chairman of its supervisory board. The former Deloitte CEO is to succeed Hasso Plattner, the 79-year-old co-founder of the German software giant whose term expires in May 2024.
Plattner was a founder of SAP in 1972. Starting in 1997, Plattner held the role of CEO, the position he held until 2003. After that, the founder continued on the supervisory board. From that position, Plattner regularly exerted influence. For example, he regularly demonstrated his knowledge of and vision for technology and was actively involved in the appointment of current CEO Christian Klein.
Currently, Plattner still holds shares worth billions euros. In the statement announcing his successor, he states that he will remain involved as an investor with an unchanged stake. “I will remain committed to SAP and its mission to help the world run better and improve people’s lives,” Plattner said.
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Renjen from May on
Now, with Renjen, a potential successor has been found. Renjen’s nomination will be decided on May 11, when the annual general meeting takes place. The prospective new top executive was previously CEO of Deloitte. Under his leadership, Deloitte’s revenue grew from $35 billion to $59 billion in seven years.
SAP therefore praises Renjen’s achievements. “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,” Plattner states. “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’s eventual appointment also gives SAP a year to prepare Plattner’s successor. When Plattner was re-elected two years ago, he promised to find a successor at least six months before his term.
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