SAP said on Thursday that Bill McDermott is stepping down as CEO. Board members Jennifer Morgan and Christian Klein have been appointed co-CEOs.
Jennifer Morgan and Christian Klein have been appointed co-CEOs.said on Thursday that Bill McDermott is stepping down as CEO after nine years running the German software company.
SAP also pre-announced third-quarter results, providing better-than-expected revenue in part because of a cloud customer. The company said that a "cloud deal with a major partner" accounted for 17 percentage points of new cloud bookings growth in the quarter. SAP said it will start recognizing revenue from the three-year deal in the fourth quarter. New cloud bookings jumped 38% in the quarter.
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