SAP AG announced yesterday that the SAP Supervisory Board has reached a mutual agreement with CEO Léo Apotheker not to extend his contract as a member of the SAP Executive Board, and he has resigned as CEO and member of the SAP Executive Board, effective immediately.

The SAP Executive Board, in agreement with the SAP Supervisory Board, has appointed Co-CEOs Bill McDermott, head of field organization, and Jim Hagemann Snabe, head of product development. Both men already are members of the SAP Executive Board.

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