Punit Renjen becomes first non-German to lead SAP’s Supervisory Board

Punit Renjen, an Indian American and former CEO of Deloitte Global, has been appointed as a member and deputy chairperson of the SAP Supervisory Board. Renjen has become the first non-German to lead a DAX40 company with the highest market capitalisation. Renjen has been elected as the designated successor of the current Chairman, Hasso Plattner, and the handover process has begun. Plattner will leave the SAP Supervisory Board after the 2024 AGM. Jennifer Li and Dr. Qi Lu were also re-elected to the supervisory board. Renjen’s appointment was supported by 99.21% of shareholders, and his election is considered a gain for SAP due to his expertise, experience, and knowledge. Renjen is due to retire as Deloitte Global CEO on December 31. At Deloitte, he developed a successful strategy that increased Deloitte’s revenue from $35 billion to over $59 billion in seven years. Renjen expressed gratitude for the trust and looked forward to working with colleagues to strengthen SAP’s position in the cloud.