SAP Extends CEO McDermott's Contract Until 2021 After Accident
- Heads of finance, technology and sales also have new contracts
- McDermott had lost an eye in an accident last summer
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SAP SE extended Chief Executive Officer Bill McDermott’s contract until 2021 and did the same for three other board members, according to an internal memo, solidifying its executive team into the next decade.
McDermott, who has been sole CEO since May 2014 and co-CEO since 2010, will serve at least five more years at the German software company’s helm, according to the memo written by Chairman Hasso Plattner and obtained by Bloomberg. McDermott’s contract would have expired next year.