SAP ends agreement with chairman nominee prior to Plattner's retirement

SAP SE, Europe’s foremost software company, announced the amicable departure of Punit Renjen, the nominee for the chairman role, with whom they had nominated a year ago from Deloitte Touche Tohmatsu.

According to a statement released late Sunday, SAP cited a "difference in perspective on the role" as the reason for parting ways with Renjen, who was slated to succeed Hasso Plattner at the end of his term in May.

Instead, SAP disclosed their intention to propose Pekka Ala-Pietilä, the former President of Nokia Oyj and a former member of the SAP supervisory board, for the position. Renjen will resign from his mandate at SAP's annual general meeting in May. Renjen has not provided immediate comment on the matter.

Reports from German newspaper Handelsblatt earlier on Sunday suggested Renjen's likely replacement. Plattner, who co-founded the software giant in 1972, has served as chairman for over two decades.