The CEO of German software giant SAP fell on his sword yesterday to be replaced by two people jointly running the company.
Leo Apotheker resigned after he and SAP came to an agreement yesterday – he’d been at the third biggest software company in the world for 20 years.
SAP turned in a fourth quarter net profit in January of nearly $1 billion – that’s down 12 percent year on year.
The company specialises in software for large enterprises and has one of the largest outsourcing centres in Bangalore, India.
Replacing Apotheker will be joint CEOs Jim Snabe and Bill McDermott.