German multinational software company SAP has announced the appointment of Punit Renjen as its designated supervisory board chairman to succeed co-founder Hasso Plattner.

Renjen, who served as the chief executive officer of professional services firm Deloitte from 2015 before retiring at the end of 2022, will stand for election at SAP’s annual general meeting on 11 May. Following his successful election, Plattner will begin the handover process before his term expires in May 2024.

In an announcement, SAP praised Renjen’s “impeccable track record” and said that he “would be an excellent candidate to eventually take the chair at a time when SAP is undergoing the most fundamental strategic transformation in its 50-year history.” At Deloitte, Renjen oversaw a company that employs 415,000 people across 150 countries, with its revenues growing from $35 billion to more than $59 billion under his watch.

SAP and Deloitte have been long-term partners for over 30 years.

Commenting on his prospective appointment, Renjen said: “I am very pleased to be considered for a role at SAP – an iconic company with a key role in the global economy. At a time when the company is successfully transforming into an enterprise application leader in the cloud and delivering on Hasso Plattner's original vision of helping the world run better and improving people's lives, I could not be more excited at the opportunity to help shape the future of a company that has unmatched relevance for global business.”

The outgoing 79-year old Plattner founded SAP with fellow IBM alumni Dietmar Hopp, Claus Wellenreuther, Klaus Tschira, and Hans-Werner Hector in 1972. He served as chief exec from 1997 to 2003, and has led the supervisory board since. His final reelection came in 2022 despite resistance from some shareholders, with the veteran promising to present a successor at least six months before the end of his two year term.

Of his prospective replacement, Plattner said: “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. His deep understanding of our customers' needs, and the broader industry make him an ideal candidate for chairman of the supervisory board from 2024 onwards.

“While we are now the number one Enterprise Application company globally, I will continue to chair SAP with passion and commitment until the baton is passed to the new leader who will take the company to new heights. As an investor with an unchanged stake, I will remain committed to SAP and its mission to help the world run better and improve people's lives.”

Plattner owns a 6.16 per cent stake in SAP worth over €8 billion.

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