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Let's see how long he stays:
Airbus CFO
Domik Asam
is moving to SAP - but there the management style of CEO
Christian Klein
is causing displeasure among executives
Photo: REGIS DUVIGNAU / REUTERS
The software group SAP gets its new chief financial officer from the European aircraft manufacturer Airbus.
Dominik Asam
(53) will take over the finance department at the Dax group from March 7, 2023, SAP announced on Wednesday.
Airbus shares lost almost 2 percent, while SAP papers gained a good 0.7 percent.
Before joining Airbus, Asam was responsible for the finance department at Munich-based semiconductor manufacturer Infineon for eight years until 2019.
The manager studied business administration and mechanical engineering.
SAP Supervisory Board Chairman Hasso Plattner (78) referred to Asam's experience in leading positions at Airbus, Infineon, Siemens and Goldman Sachs. "So he is exactly the right person to continue driving the successful cloud transformation at SAP."
Airbus boss
Guillaume Faury
(54) said that Asam and his team contributed to the solid development at Airbus.
The change at SAP became necessary because the long-standing CFO
Luka Mucic
(50) announced his departure in March after 26 years with the company.
SAP only extended the manager's contract in 2020 by a further five years until the end of March 2026.
According to information from manager magazin, Mucic would have liked to have fulfilled his contract until the end of the term.
But he apparently had to go as a "pawn sacrifice" for the poor share price.
Born in Croatia, he has been a member of the SAP Executive Board since July 2014, longer than any other member.
He began his professional career in 1996 in the legal department of SAP.
Mucic will now work at SAP until March 31, 2023 as planned.
SAP CEO
Christian Klein
(42) said Asam's expertise in global finance and technology was a perfect fit with SAP's strategy and portfolio.
Klein has prescribed a reorientation towards the cloud for the Walldorf-based software company.
SAP recently lowered its profit forecast because of the cost of withdrawing from Russia and Belarus.
The cloud business, on the other hand, is booming.
The conversion is progressing faster than planned, said Klein when presenting the half-year figures.
Since the beginning of the year, however, the share has lost around a third of its value.
New Head of North America Business
On Tuesday, SAP had already named a new boss for the North American business.
SAP announced that Lloyd Adams will take over the division in the USA and Canada on September 1st.
Adams has been with the company for 24 years, including in various management positions.
Most recently he was Head of Eastern North America Business.
He succeeds DJ Paoni, who is retiring after 26 years with SAP.
mg/Reuters