SAP Supervisory Board Extends Contracts with Executive Board Members Julia White and Scott Russell - Sabine Bendiek to End Her Contract December 31, 2023

Rhea-AI Summary

SAP SE (NYSE: SAP) announced the extension of contracts for Executive Board Members Julia White and Scott Russell until 2027. This decision reflects the Supervisory Board's confidence in their leadership, noting significant contributions to the company. In contrast, Sabine Bendiek, Chief People & Operating Officer, will not renew her contract, which expires on December 31, 2023. Bendiek's departure is seen as a loss by the Board, acknowledging her role in promoting innovative practices within the company. The Board will initiate a search for her successor shortly.

Positive

• Extension of Julia White's and Scott Russell's contracts indicates strong leadership continuity.
• Continued strategic direction aimed at managing future opportunities and challenges.

Negative

• Sabine Bendiek's departure may create gaps in leadership and continuity in people operations.

WALLDORF, Germany, March 31, 2023 /PRNewswire/ -- SAP SE (NYSE: SAP) today announced that the SAP Supervisory Board has extended the contracts of Executive Board Members Julia White, Chief Marketing & Solutions Officer, and Scott Russell, who leads SAP's Customer Success organization, for three years until 2027.

"We express our gratitude to Julia and Scott for their excellent work, which has significantly propelled the company forward. With their exceptional skills and expertise, we are confident that they will continue to provide the necessary drive for their respective Board areas to manage the opportunities and challenges ahead," said Prof. Dr. Hasso Plattner, Chairman of the SAP Supervisory Board.

Furthermore, Sabine Bendiek, Chief People & Operating Officer and Labor Relations Director, informed the Supervisory Board that she will not seek to renew her Executive Board contract. Bendiek has led the People & Operations Board area since 2021, combining HR expertise with the responsibility for operations across all Board areas.

Bendiek's contract runs until December 31, 2023. She will continue to fulfill her responsibilities with complete dedication until then. During this time, the search for a successor will be conducted.

"The SAP Supervisory Board deeply regrets the decision. At the same time, we respect this choice and thank Sabine for her excellent work and commitment to SAP's transformation. Sabine promoted new ways of working, bringing people, processes and technology together," said Plattner. 

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About SAP

SAP's strategy is to help every business run as an intelligent, sustainable enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: SAP customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers' businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people's lives. For more information, visit www.sap.com.  

This document contains forward-looking statements, which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ. Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of SAP's 2022 Annual Report on Form 20-F.

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SOURCE SAP SE

FAQ

What are the key changes in SAP's Executive Board as of March 31, 2023?

The contracts of Julia White and Scott Russell have been extended until 2027, while Sabine Bendiek will not renew her contract, which ends on December 31, 2023.

Why is Sabine Bendiek leaving SAP?

Sabine Bendiek has decided not to renew her contract, concluding her tenure with the company on December 31, 2023.

What impact might Sabine Bendiek's departure have on SAP?

Her departure could lead to leadership gaps in the People & Operations area, which may affect continuity and strategic initiatives.

What is the significance of extending Julia White's and Scott Russell's contracts?

Extending their contracts indicates SAP's commitment to maintaining strong leadership and continuity in its strategic direction.