6 months ago
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At the recent SAP Annual General Meeting (AGM), shareholders overwhelmingly supported the election of Pekka Ala-Pietilä as a new member of the company’s Supervisory Board. Ala-Pietilä, who received 95.50% of the vote, was subsequently elected as the new Chairman of the SAP Supervisory Board, taking over from the company’s co-founder, Prof. Dr. h. c. mult. Hasso Plattner.
Hasso Plattner, who had served as the Chairman of the Supervisory Board since May 2003, decided to step down from his position after the 2024 AGM. During his tenure, SAP experienced remarkable growth, with its market capitalization increasing from approximately €30 billion to around €200 billion. This impressive achievement solidified SAP’s position as Germany’s most valuable listed company.
Plattner’s contributions to SAP’s success extend far beyond his role as Chairman. As a co-founder of the company, his innovative spirit and competitive drive have been instrumental in SAP’s development for over five decades. From pioneering innovations in Enterprise Resource Planning (ERP) to guiding the company’s strategic shift towards becoming an enterprise cloud and business AI leader, Plattner’s influence has been profound.
Although Plattner has left the Supervisory Board, he will continue to serve as an advisor to SAP, ensuring that his invaluable knowledge and experience remain available to the company as it navigates the ever-evolving technology landscape.
Ala-Pietilä’s Vision for SAP’s Future
Pekka Ala-Pietilä, the newly elected Chairman of the SAP Supervisory Board, expressed his gratitude to the shareholders and the board for the opportunity to rejoin Europe’s most important software company. He emphasized his commitment to helping SAP broaden its strong position in the industry.
Ala-Pietilä brings with him a deep understanding of both SAP and the technology industry as a whole. His expertise and insights will be crucial in supporting the company’s ongoing successful transformation and its continued expansion as a leader in cloud ERP and business AI.
As SAP continues to adapt to the rapidly changing demands of the digital age, Ala-Pietilä’s leadership and vision will play a vital role in shaping the company’s future. By leveraging his extensive experience and understanding of the industry, he aims to guide SAP in maintaining its competitive edge and delivering innovative solutions to its customers.
Board Changes Announced at SAP AGM
In addition to the election of Pekka Ala-Pietilä, the SAP AGM saw the re-election of Aicha Evans, Gerhard Oswald, and Dr. Friederik Rotsch as members of the Supervisory Board, with 93.39%, 89.82%, and 92.45% of the vote, respectively. Prof. Dr. Ralf Herbrich was also elected with 99.29% of the vote, succeeding Punit Renjen, who left the SAP Supervisory Board at the end of the 2024 AGM.
Shareholders at the AGM also supported all other proposals put forth by the Executive Board and Supervisory Board. This included approving the actions of both boards for fiscal year 2023, with 99.51% and 99.44% support, respectively, and approving the adaptation of the compensation for the Chairman of the Supervisory Board.
Dividend Increase for Shareholders
SAP shareholders will receive a dividend of €2.20 per share for the 2023 fiscal year, representing a €0.15 or 7% increase compared to the dividend paid for 2022. The total payout to shareholders will amount to approximately €2.6 billion, with the dividend expected to be paid out from May 21, 2024.
This increase in dividend demonstrates SAP’s commitment to rewarding its shareholders and sharing the company’s success with those who have invested in its future. As SAP continues to grow and evolve under the leadership of Pekka Ala-Pietilä and the Supervisory Board, shareholders can expect to benefit from the company’s ongoing success and strong financial performance.
The SAP AGM marked a significant transition for the company, with Pekka Ala-Pietilä assuming the role of Chairman of the Supervisory Board and Hasso Plattner stepping down after more than two decades of leadership. As SAP moves forward, it will continue to build upon the strong foundation laid by Plattner, while embracing the fresh perspectives and expertise brought by Ala-Pietilä and the newly elected board members.
