BENGALURU: Former Deloitte global CEO Punit Renjen will take over as chairman of the $32-billion German enterprise software company from the legendary Hasso Plattner.
From 2015 until his retirement in December of last year, Renjen, a Haryana native who was born and raised there, served as CEO of Deloitte Global. Renjen, Deloitte's global CEO, devised and implemented a strategy that saw the company's revenues rise from $35 billion to over $59 billion in just seven years. He has been given the honorary title of global CEO emeritus by Deloitte.
Renjen will succeed Plattner, 79, who co-founded SAP with Dietmar Hopp, Claus Wellenreuther, Klaus Tschira, and Hans-Werner Hector in 1972, subject to shareholder approval. "We are excited to propose Punit Renjen as a new member of the SAP supervisory board for a four-year term at the AGM in May 2023," stated Plattner, who has been chairman since 2003. This marks the beginning of a planned change at the helm of the supervisory board, ensuring the continuity required for our business's ongoing expansion. Punit brings valuable insights and expertise to the board because he has extensive experience as the CEO of one of the largest consulting firms in the world and was very successful. He is an ideal candidate for chairman of the supervisory board beginning in 2024 due to his thorough comprehension of the requirements of our customers and the industry as a whole.
Renjen stated, "SAP is a well-known company that plays an important role in the global economy." I could not be more excited about the opportunity to help shape the future of a company that has unrivaled relevance for global business at a time when the company is successfully transforming into a leader in enterprise application development in the cloud and delivering on Hasso Plattner's original vision of helping the world run better and improving people's lives. He stated, "I am looking forward to working with talented colleagues worldwide to ensure that the company continues to assist its customers in resolving their most pressing issues."