Dominik Asam has been appointed as the new SAP Chief Financial Officer (CFO) and SAP Executive Board Member, replacing Luka Mucic who has served for a long time in the said role.
SAP recently made changes to its leadership team, appointing new executives to several key positions. These appointments signal a shift in the company’s focus and priorities, suggesting that the German tech giant is looking to move in a different direction. The latest SAP leaders will be tasked with steering the company through this period of change and ensuring that it remains a leader in the enterprise software and cloud solutions market.
Furthermore, the new leaders will also be responsible for overseeing the transition of the company’s products and services to the cloud, as well as ensuring that SAP’s current customer base is satisfied with the changeover. Last year’s launch of the Business Transformation as a Service (BTaaS) signature offering RISE with SAP is a clear indication of the company’s dedication to helping its customers shift to the cloud. With this initiative, SAP promises to manage relationships with hyperscalers and consultancy partners on behalf of customers, making the transition to the cloud as smooth and seamless as possible.
Replacing Luka Mucic as SAP CFO
As previously announced by SAP, Luka Mucic will continue in his full capacity as CFO and will remain a Member of the Executive Board until March 2023. This allows for a smooth transition and continuation of his work during this time. It can be noted that Mucic is the third CFO the company has had in its entire history of 50 years.
In 2014, the same year that he was selected to the Executive Board, he began his tenure in the position. In 1996, Mucic started his professional life with SAP, where he worked initially in the Corporate Legal department. Between the years of 2008 and 2012, he was SAP’s CFO for the DACH region (Germany, Austria, and Switzerland). Additionally, he was promoted to the role of Head of Global Finance in 2013 and was given a seat on SAP’s Global Managing Board.
Moreover, Mucic is also in charge of the Taulia and SAP Signavio business units, aside from supervising the sustainability initiatives of the German enterprise software giant. According to Hasso Plattner, Chairman of the Supervisory Board of SAP SE, the company’s income from its cloud services increased from €1 billion to more than €9 billion during Mucic’s time as CFO.
Plattner went on to say that Mucic and his leadership team have been an essential component of SAP’s successful move to the cloud. He noted that he is certain that Mucic and his department will continue to demonstrate exceptional execution even after the transition to a new leader is complete.
“I take this opportunity to once again thank Luka Mucic for his 26 years of dedication and service to SAP, for laying the strong foundation upon which Dominik will build, and for his leadership in ensuring a seamless transition,” Plattner said in a statement.
Dominik Asam Becomes an SAP Executive Board Member
Mucic’s replacement, Dominik Asam, will commence his new role on March 7, 2023. He is currently the CFO and member of the Executive Committee at Airbus. Asam comes to SAP with experience in senior leadership positions at Munich-headquartered Infineon Technologies, Siemens, and Goldman Sachs. Describing Asam as a “well-rounded and experienced leader in global finance and technology,” Plattner believes he is the ideal person to continue driving SAP’s successful cloud transformation.
Meanwhile, SAP Chief Executive Officer Christian Klein expressed his excitement to have Asam on board, remarking on his wealth of experience and expertise in the industry. With Asam becoming a part of the team, SAP intends to continue its tradition of innovation and excellence. Klein shared:
“The breadth and depth of his expertise in global finance and technology aligns perfectly to SAP’s strategy and portfolio, as we continue innovating in the cloud to bring sustainability to the center of business, make supply chains more resilient, and future-proof our customers around the world.”
Commenting on his new appointment, Asam said he is thrilled to join the global leader in enterprise cloud solutions. As an SAP customer for many years, he claims to have experienced firsthand how SAP technologies drive innovation, transformation, and success for the company’s many satisfied clients.
“I look forward to working with my new colleagues on the Board and throughout the company to continue driving SAP’s ongoing success,” Asam remarked.
