In what's being seen as the end of an era, the last surviving co-founder of the German software giant SAP has retired.
Hasso Plattner announced his decision to step down at SAP's annual general meeting on Wednesday. The 80-year-old said that much had been achieved together, pointing out that SAP had developed into the most valuable German company and a world-class corporation. That, he said, filled him with great pride.
He will continue to provide advice and support to the company. Plattner has been chairman of the supervisory board since 2003. The company announced that he will be succeeded by former Nokia manager Pekka Ala-Pietilä.
Plattner founded SAP in 1972 together with Dietmar Hopp, Claus Wellenreuther, Klaus Tschira and Hans-Werner Hector. SAP chief executive Christian Klein once again honoured the achievements of the 80-year-old.
"SAP is the only world-class digital company in Europe." He said Plattner is a great visionary who had reinvented the company time and again. Plattner and his wife still hold 6% of the company's shares.
There had been turbulence surrounding the appointment of the head of the supervisory board because Europe's largest software group had unexpectedly rescheduled the replacement of Plattner.
Punit Renjen was supposed to take up the post, but SAP announced in February that the group and the former head of the consulting firm Deloitte had decided to part ways by mutual agreement. The reason given by SAP was a difference of opinion regarding the future role of the chairman of the supervisory board.
Plattner said at the annual general meeting that this was the right decision.
