Outgoing SAP co-chief Hagemann Snabe to join Siemens' board

Outgoing SAP co-chief Hagemann Snabe to join Siemens' board

Summary: The outgoing SAP co-chief executive will join Siemens' supervisory board, two months after he announced he would move on from the German enterprise software giant.

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Former SAP co-chief Jim Hagemann Snabe joins Siemens. (Image: Tom Raftery/Flickr)

Jim Hagemann Snabe, SAP's outgoing co-chief executive, has been appointed to Siemens' supervisory board.

Snabe announced he would leave the German enterprise software giant in July, leaving Bill McDermott as the company's sole chief executive after their dual appointments in February 2010.

The former SAP executive will replace Josef Ackerman, who will be leaving Siemens' board as deputy chairman. The move was reportedly at his request, just two weeks after he was named in a suicide note of Zurich Insurance finance chief Pierre Wauthier, whose relationship with Ackerman was tense in recent months.

Snabe's move to the electronics and engineering firm is hoped to help its "growing strategic importance of digitization" of Siemens' core businesses. 

During his time at SAP, the two chiefs spent more than $14 billion on acquisitions in efforts to add mobile and cloud-based technologies to its range of database software, according to Bloomberg.

SAP was, for a time, Germany's most valuable firm. 

Topics: Enterprise Software, SAP

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