SAP Extends Contract of CEO Christian Klein

Dow Jones05-06

By David Sachs

SAP extended the contract of Chief Executive Christian Klein through 2028 in a move meant to underline his role in the firm's growth.

The German software company also promoted Klein to chairman of the executive board from secretary, SAP said Monday. SAP first made Klein co-CEO in 2019 before being naming him the sole top executive in April 2020.

"With the early extension of his contract and a further strengthening of his position, we are clearly underlining his important role in SAP's ongoing transformation," said Hasso Plattner, chairman of SAP's supervisory board. "We are convinced that this will lay the foundation for SAP's continued growth in a highly dynamic IT industry."

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

May 06, 2024 10:41 ET (14:41 GMT)

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