Jennifer Morgan, the Newtown Square-based co-CEO of SAP, is leaving the giant business software company, the Wall Street Journal reported.
Christian Kiein, 39 years old and based in Germany, moves from co-CEO to sole CEO.
“More than ever, the current environment requires companies to take swift, determined action which is best supported by a very clear leadership structure. Therefore, the decision to transfer from Co-CEO to sole CEO model was taken earlier than planned to ensure strong, unambiguous steering in times of an unprecedented crisis,” the company said in a statement.
Ms. Morgan, 48, joined SAP in 20o4. She followed former SAP CEO Bill McDermott, now CEO of ServiceNow, to SAP, and was percieved as his protoge.
The true point of contention that led to this sudden decision is not yet known. Morgan became co-CEO along-side Klein in October of last year.
This article by Virginia Backaitis offers some possible explanations.