Punit Renjen to succeed SAP co-founder Hasso Plattner as chairman

ERP giant SAP has elected Punit Renjen, the former global CEO of Deloitte, as the new chairman of its board.

If the appointment is ratified by SAP’s shareholders at the Annual General Meeting on May 11, Renjen will step into shoes of Hasso Plattner, the only remaining co-founder still involved in an operational role at the $32 billion German software company.

Plattner co-founded SAP in 1972 with Dietmar Hopp, Claus Wellenreuther, Klaus Tschira and Hans-Werner Hector, and will retire from his position at the end of his current term in May 2024. The 79-year-old Plattner has served as Chairman since 2003.

“We are excited to propose Punit Renjen as a new member of the SAP Supervisory Board for a four-year term,” said Plattner. “His extensive experience and deep understanding of our customers’ needs, and the broader industry make him an ideal candidate for Chairman of the Supervisory Board from 2024 onwards,” said Plattner.

Born and raised in India, 61-year-old Renjen joined Deloitte in 1989 after earning an MBA in Management from Oregon’s Willamette University. Renjen remained with the firm until his retirement on December 31 last year, during this time growing the ranks to become one of the company’s most influential CEOs in its history.

Renjen served as Deloitte CEO for seven years (2015 until his retirement), in this period leading Deloitte through a period of significant growth, with revenues up from $35 billion in 2015 to more than $59 billion today. With 415,000 people in 150 countries, Deloitte is the world’s largest Big Four firm, ahead of arch-rivals PwC, EY and KPMG.

“With extensive experience as a highly successful CEO of one of the world’s largest consulting firms, Punit brings valuable insights and expertise to the board,” said Plattner.

Commenting on his election, Renjen said: “I am very pleased to be considered for a role at SAP – an iconic company with a key role in the global economy. At a time when the company is successfully transforming into an enterprise application leader in the cloud and delivering on its vision of helping the world run better and improving people’s lives, I could not be more excited at the opportunity to help shape the future of a company that has unmatched relevance for global business.”

Notably, SAP and Deloitte have been business partners for over 30 years.