SAP AG co-CEO Jim Hagemann Snabe has been nominated to transition to serving on the SAP Supervisory Board,
He will win a place on the board if he wins approval by at least 25% of SAP shareholders.
If elected at the SAP annual general meeting of shareholders in May 2014, Snabe will join the board immediately, SAP announced Sunday.
Snabe said serving on the board will allow him “to begin the next phase of my career, closer to my family.”
“The proposed set-up, with Jim joining the Supervisory Board, builds on the strength of our partnership and personal friendship, and will make SAP an even stronger company as we accelerate the transformation of the industry,” said Bill McDermott, SAP co-CEO.