SAP has become officially a European company following a majority decision by shareholders to favor the move during the company’s annual general meeting in May.
The company registered with the Commercial Register as a European firm and renamed its German subsidiary to SAP Deutschland SE & Co. KG, SAP said Monday.
SAP SE’s supervisory board includes five non-German members as part of the transition: Pekka Ala-Pietlä (Finland), Bernard Liautaud (France) and Jim Snabe (Denmark) as shareholder representatives and Catherine Bordelon (France) and Steffen Leskovar (Slovenia) as employee representatives.
SAP SE will also retain its employee contracts, shop agreements, shareholders’ rights and stock exchange trading of company shares.
The company’s Walldorf, Germany-based headquarters also remains as the official company seat.