The departure of the CFO is likely to cause renewed concern at SAP.
(Photo: dpa)
Dusseldorf At SAP, there is once again a new appointment on the board: CFO Luka Mucic is surprisingly leaving the company. The supervisory board had “mutually” agreed on this with the manager, it said in a mandatory notification on Friday evening after the stock exchange closed. The software manufacturer did not comment on the reasons.
Mucic, whose contract should run until 2026, will continue to work as CFO “in full” until March 31, 2023, SAP emphasized to the capital market. The supervisory board has already initiated the search for a successor.
“We are incredibly grateful to Luka for his 26 years of service and his commitment to the company,” said Hasso Plattner, Chairman of the Supervisory Board. CEO Christian Klein praised his experienced colleague as a “wonderful mentor” who helped him personally and the company enormously with “intellectual generosity, his strong commitment and principle-based leadership”.
The report should attract some attention on the capital market and in the company. In view of the many changes on the board, Mucic, who has been in office since 2014, is considered a constant. In view of the contract extension two years ago, chief supervisor Plattner emphasized that “a clear signal of stability in uncertain times” is being sent.
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Mucic is highly respected among investors for combining expertise with a deep understanding of the business. Especially since the manager also bears operational responsibility and, for example, heads the new Business Process Intelligence business area, which plays a central role in SAP’s strategy. He is also popular with employees.
Mucic has spent practically his entire professional life at SAP. The lawyer started in the legal department in 1996, but then took on many operational tasks – he was responsible for merger and acquisition activities, headed the “Global Risk Management” department and oversaw the business of the German sales company as CFO. On the advice of his predecessor Werner Brandt, he meanwhile completed an extra-occupational MBA.
The departure of Mucic should again cause unrest at SAP. In recent years there have been numerous changes in the board and on the levels below, none of the remaining board members has been in office for more than four years. The longest-serving member is now CEO Christian Klein.
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