SAP AG: SAP Co-CEO Jim Hagemann Snabe Proposed for Election to the SAP Supervisory Board
SAP SE / Key word(s): Change of Personnel
21.07.2013 20:05
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.
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WALLDORF, Germany - July 21, 2013 - SAP AG (NYSE: SAP) today announced that
the SAP Supervisory Board has agreed to propose that Co-CEO Jim Hagemann
Snabe be elected to the SAP Supervisory Board at the SAP Annual General
Meeting of Shareholders in May 2014. This proposal is subject to support by
at least 25% of the shareholders. Jim Hagemann Snabe will transition from
his current role as co-CEO and member of the SAP Executive Board upon the
conclusion of the Annual General Meeting of Shareholders in May 2014, ten
months from now.
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Information and Explanation of the Issuer to this News:
'After more than 20 years with SAP, I have decided that it is time for me
to begin the next phase of my career, closer to my family,' said Co-CEO Jim
Hagemann Snabe. 'What the entire SAP team has achieved since 2010 is
remarkable, and the momentum we have built is now driving the
transformation of the industry. I would be honored to continue my
commitment to SAP in serving as a member of the Supervisory Board, building
on the partnership and friendship with Bill McDermott and the entire Global
Managing Board, to further accelerate SAP's success.'
'I am incredibly proud of what Jim and Bill have achieved together since
they took the lead as co-CEOs in February 2010. They have exceeded my
expectations in expanding SAP's market leadership and profitable growth
through a relentless focus on innovation and customer success. With two of
the best leaders in the industry, now I can look to bring Jim's experience
and energy to the SAP Supervisory Board, and be sure SAP is firmly in the
hands of a visionary leader with Bill as sole CEO,' said Hasso Plattner,
Co-Founder of SAP and Chairman of the SAP Supervisory Board.
'As co-CEOs, we have a proven track record of making bold decisions that
set SAP and our customers up for value and growth,' said Co-CEO Bill
McDermott. 'The proposed set-up, with Jim joining the Supervisory Board,
builds on the strength of our partnership and personal friendship, and will
make SAP an even stronger company as we accelerate the transformation of
the industry. Our commitment to SAP, our global customers and our
innovation agenda is stronger than ever.'
The Company will host a conference call for media and analysts tomorrow,
Monday July 22, 2013 at 4:30 pm CET / 10:30 am EDT / 7:30 am PST. The
conference call will be web cast live on the Company's website at
www.sap.com/investor and will be available for replay.
The participant dial-in details for the call are as follows:
Germany: +49-69-5899-90706
United Kingdom: +44-208-515-2334
United States: +1-480-629-9819
Passcode: 4632028
A replay of the call will be available for two weeks following the call.
Replay numbers can be found below:
Germany: + 49-69-5899-90567
United Kingdom: + 44 207 154 2833
United States: +1 303 590 3030
Replay Passcode: 4632028
Any statements contained in this document that are not historical facts are
forward-looking statements as defined in the U.S. Private Securities
Litigation Reform Act of 1995. Words such as 'anticipate,' 'believe,'
'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'project,'
'predict,' 'should' and 'will' and similar expressions as they relate to
SAP are intended to identify such forward-looking statements. SAP
undertakes no obligation to publicly update or revise any forward-looking
statements. All forward-looking statements are subject to various risks and
uncertainties that could cause actual results to differ materially from
expectations. The factors that could affect SAP's future financial results
are discussed more fully in SAP's filings with the U.S. Securities and
Exchange Commission ('SEC'), including SAP's most recent Annual Report on
Form 20-F filed with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of their
dates.
For more information, financial community only:
Stefan Gruber, +49 (6227) 7-44872, investor@sap.com, CET
For more information, press only:
Torie Clarke, +1 (202) 365-0288, torie.clarke@sap.com, ET
Jim Dever, +1 (610) 661-2161, james.dever@sap.com, ET
Daniel Reinhardt, +49 (6227) 7-40201, daniel.reinhardt@sap.com, CET
21.07.2013 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: SAP SE
Dietmar-Hopp-Allee 16
69190 Walldorf
Germany
Phone: +49 (0)6227 - 74 74 74
Fax: +49 (0)6227 - 75 75 75
E-mail: investor@sap.com
Internet: www.sap.com
ISIN: DE0007164600
WKN: 716460
Indices: DAX
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard),
Stuttgart; Regulated Unofficial Market in Dusseldorf,
Hamburg, Hanover, Munich; Terminbörse EUREX; NYSE
End of Announcement DGAP News-Service
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