SAP’s board has announced the nomination of Punit Renjen, as designated chairman to succeed co-founder Hasso Plattner, whose term will expire in May 2024. Punit Renjen has served as Deloitte Global CEO from 2015 to 2022. He also served as a member of the Deloitte Global Board of Directors. Effective December 31, 2022, he retired from Deloitte and became Deloitte Global CEO Emeritus. 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.
A co-founder of SAP company, Hasso Plattner has been chairman of the supervisory board of SAP SE since May 2003. Plattner set up SAP with four co-founders in 1972. He stepped down as co-chief executive in 2003 and has since been serving as chairman of the company’s supervisory board and played an influential role in the company’s governance.
He was re-elected for two years in 2022 despite resistance from shareholder representatives, and promised at the time to present a successor at least six months before the end of his term. Plattner reduced his stake in SAP several times as of 2020; he owned a 5.89% stake, making him the company’s largest individual shareholder.
SAP said that under Renjen’s lead, Deloitte’s sales grew to $59 billion from $35 billion in just seven years, calling his track record impeccable.
SAP, in a separate statement, said it would propose a dividend of 2.05 euros per share for 2022.
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