Apotheker is out as SAP CEO

Leo Apotheker has resigned as CEO of German ERP giant SAP, the company disclosed on Sunday. The decision was by mutual agreement with SAP's supervisory board, and is effective immediately.

The board appointed two co-CEOs: Bill McDermott, head of the field organization and Jim Hagemann Snabe, head of product development. Meanwhile, CTO Vishal Sikka has been appointed to the SAP Executive Board, of which McDermott and Hagemann Snabe were already members.

A press release issued by SAP indicated that Co-Founder and Chairman Hasso Plattner will have a strong advisory role in technology and product development.

"The new setup of the SAP Executive Board will allow SAP to better align product innovation with customer needs. The new leadership team will continue to drive forward SAP's strategy and focus on profitable growth, and will deliver its innovations in 2010 to expand SAP's leadership of the business software market," said Hasso Plattner in the company statement.

SAP will hold conference call for media and analysts at 2:30 PM CET on Monday

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