The SAP Supervisory Board, a governing body that oversees the activities and strategies of the German multinational software corporation, is composed of an impressive array of highly experienced individuals from different backgrounds.
This month, the SAP Supervisory Board has nominated Punit Renjen to stand for election as a new member of the Supervisory Board and has proposed him as the designated successor to the current Chairman, Professor Dr. Hasso Plattner. Renjen’s nomination is an endorsement of his impressive track record in global business and leadership roles, demonstrating his qualifications and aptitude for this important role on the board. If confirmed by shareholders at the Annual General Meeting (AGM) on May 11, 2023, he will become a valuable asset in guiding SAP’s future strategy, providing valuable insight and direction to help ensure continued success for years to come.
In accordance with the SAP Supervisory Board’s decision to propose Renjen as the successor of Chairman Prof. Dr. Hasso Plattner, both Dr. Plattner and the Board initiate the succession process. Once elected to the Board, a seamless handover from Dr. Plattner to Renjen will be implemented in order for a smooth transition of power. Furthermore, given that Dr. Plattner’s term is set to expire in May 2024, it is paramount that this succession plan is undertaken swiftly and efficiently in order for long-term success.
Punit Renjen In Line to Succeed SAP’s Chair
From 2015 until his departure on December 31, 2022, Punit Renjen led Deloitte as its global Chief Executive Officer. Over his seven years as Global CEO, Renjen grew Deloitte’s revenue from $35 billion to over $59 billion. One of the top companies to work for, Deloitte has risen to become the industry standard in professional services. Today, There are 415,000 employees working at Deloitte throughout 150 countries.
Since the 1980s, SAP has been an integral element of Deloitte’s dynamic partner ecosystem. With an integrated strategy, extensive solutions portfolio, and a global workforce of SAP-focused business and technology specialists, Deloitte has been supporting customers’ particular transformation needs for more than three decades. Deloitte has been recognized as an industry leader in the SAP ecosystem by both SAP and the worldwide research firms Gartner and Forrester.
Punit Renjen’s stellar credentials make him an ideal candidate to join SAP’s Supervisory Board and, down the line, assume SAP’s chair during the company’s most significant strategic shift in its half-century history. Mr. Renjen’s managerial insights and understanding of what organizations require in today’s fast-changing world are invaluable. He is well-versed in SAP’s capabilities to aid in the long-term development and transformation of businesses throughout the world.
Describing SAP as an “iconic company with a key role in the global economy,” Renjen said that he is thrilled to be considered for a position at the German tech giant. He further shared:
“At a time when the company is successfully transforming into an enterprise application leader in the cloud and delivering on Hasso Plattner’s original vision of helping the world run better and improving people’s lives, I could not be more excited at the opportunity to help shape the future of a company that has unmatched relevance for global business. I am looking forward to working with talented colleagues around the world to ensure the company continues to help its customers solve their most pressing problems.”
SAP Supervisory Board Welcomes New Member
Prof. Dr. Hasso Plattner, who was one of the original co-founders of SAP in 1972 along with Dietmar Hopp, Claus Wellenreuther, Klaus Tschira and Hans-Werner Hector has served as Chairman since 2003. He recently declared that SAP is highly enthusiastic about proposing Punit Renjen for a four-year term to become a new member of the SAP Supervisory Board at the AGM scheduled to take place this year.
“This initiates a structured transition at the helm of the Supervisory Board, ensuring the continuity necessary for our company’s ongoing growth. With extensive experience as a highly successful CEO of one of the world’s largest consulting firms, Punit brings valuable insights and expertise to the board. His deep understanding of our customers’ needs, and the broader industry make him an ideal candidate for Chairman of the Supervisory Board from 2024 onwards,” Dr. Plattner stated.
“While we are now the number one Enterprise Application company globally, I will continue to chair SAP with passion and commitment until the baton is passed to the new leader who will take the company to new heights. As an investor with an unchanged stake, I will remain committed to SAP and its mission to help the world run better and improve people’s lives,” he added.
Dr. Plattner continued by saying SAP is also proud to nominate Jennifer Li and Qi Lu for re-election to the Supervisory Board. He emphasized the importance of the board’s varied experiences and perspectives as SAP and the Executive Board face the challenges and possibilities of the future and push the company forward through innovation and development.
Jennifer Li, the Founder and General Partner of Changcheng Investment Partners in Beijing, China is up for re-election on the SAP Supervisory Board. If she is successful in her bid and re-elected, then her term will come to an end in 2027. Likewise, Dr. Qi Lu who is the Founder and CEO of MiraclePlus Ltd., also based in Beijing, China has put forward his candidacy for re-election. Should he be successful and get re-elected to the board then his term would expire at the same time as Jennifer’s – that being in 2027.
