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SAP chairman Plattner open to extend contract beyond 2019
May 10, 2017 / 11:35 AM / 6 months ago

SAP chairman Plattner open to extend contract beyond 2019

MANNHEIM, Germany, May 10 (Reuters) - SAP co-founder and supervisory board chairman Hasso Plattner said on Wednesday that he was willing to stay beyond 2019 when is current contract ends but that he would not sign up for a full 5-year term.

Some shareholders have voiced concerns about the succession of 73-year Plattner, who has been instrumental in SAP’s transition to the cloud.

SAP said on Wednesday that former co-CEO Jim Hagemann Snabe would resign from the company’s supervisory board ahead of his appointment as chairman of German industrial conglomerate Siemens to avoid potential conflict of interests.

Hageman Snabe was considered the main candidate to replace Plattner, who still owns 7.1 percent of SAP shares valued at more than 8 billion euros, making him one of Germany’s richest people.

“I am hired until 2019,” Platnner told SAP’s annual shareholders meeting. “I am willing to continue after 2019 but not for another 5 years.” (Reporting by Harro ten Wolde and Ilona Wissenbach; Editing by Edward Taylor)

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