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Salesforce boss Benioff certifies that SAP has a "management problem"

2020-10-27T09:29:47.075Z

According to Salesforce boss Mark Benioff, the fact that SAP had to cut its forecast is not a bad omen for the IT industry. The problems at SAP are homemade, according to the US billionaire. In addition, the Walldorfers have a "leadership problem".



Salesforce boss Mark Benioff: "The transition at SAP is just not going smoothly"

Photo: ELIJAH NOUVELAGE / REUTERS

The co-founder and boss of the SAP rival Salesforce has denied a signal effect for the entire industry in view of the capped forecasts of the Walldorfers.

"You have not used the opportunities of the cloud for yourself," said

Marc Benioff

(56) on Monday (local time) the financial channel Bloomberg TV.

"I think SAP's problems only apply to them."

In addition, the controversial US billionaire sees a management problem in the most valuable German stock exchange company.

At "SAP, you can see that they have very significant problems with the change at the top of the board that they are going through," said Benioff, given the bumpy transition in the executive floor.

"The transition is simply not going smoothly and your customers say that too. Now your sales development also reflects that."

Farewell to dual leadership - Klein has been sole boss since April

After ex-boss Bill McDermott, the chief post went to the duo

Jennifer Morgan

and

Christian Klein (50)

around a year ago

.

In April, Morgan - the first woman at the top of the board of a Dax group - had to give up after about six months because, in the opinion of supervisory board chairman Hasso Plattner, there had been too many paralyzing discussions internally.

On Sunday, Klein had triggered a strong stock market tremor at SAP with a strategy swing.

Due to the corona pandemic, among other things, he radically reduced both the annual forecast and the medium-term goals and wants to convert the predominantly medium-sized customers even faster to cloud software in the coming years.

That requires investment and weighs on the operating margin in day-to-day business, for which McDermott had promised a sharp increase by 2023.

Klein hopes that this step will result in stronger growth in sales and profits in a few years.

The SAP share had fallen on Monday by more than a fifth to 97.50 euros and thus back to the level at the beginning of April, when the shares were just recovering from the Corona crash.

This was the highest daily loss of the paper since the 1990s, a market value of around 33 billion euros disappeared into thin air.

Salesforce is the world market leader in so-called cloud software, which customers use over the Internet and pay for via subscriptions.

Salesforce shares lost 3.4 percent at the beginning of the week.

la / dpa-afx

Source: spiegel

All news articles on 2020-10-27

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