Punit Renjen appointed SAP Supervisory Board deputy chairperson

Punit Renjen, a former Deloitte Global CEO and Indian American, has been appointed to the SAP Supervisory Board as its deputy chair. In doing so, he became the first non-German to chair a DAX40 company with the highest market cap.

Currently, the handover process is being conducted from the current Chairman Prof Dr h. c. mult. SAP has announced Punit Renjen has been appointed as the designated successor to Hasso Plattner. Ninety-two percent of shareholders voted for Renjen.

"We believe that Punit Renjen is an excellent candidate who, with his outstanding expertise, his many years of experience in a global company, and his valuable knowledge of many industries, represents a gain for SAP and our Supervisory Board. And we all find him to be an extremely suitable and capable candidate to take over my role as chairperson of the Supervisory Board in the future," said Hasso Plattner, the company co-founder and its current Chairman.

After the 2024 AGM, Plattner will leave the SAP Supervisory Board. The Supervisory Board has elected Punit Renjen as its Deputy Chairperson immediately following the latest AGM.

"I am very thankful for the trust SAP shareholders put in me. I am looking forward to working with talented colleagues around the world to ensure SAP strengthens its position as an enterprise application leader in the cloud," Renjen said.

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Deloitte Global CEO Renjen will step down on December 31 after holding the position since 2015. During his tenure as CEO, Deloitte's revenues grew from $35 billion to more than $59 billion in just seven years.