SAP SE has announced that the Annual General Meeting of Shareholders (AGM) of SAP SE elected Dr. h.c. Punit Renjen (61) as new member of the company’s Supervisory Board. Renjen’s election was supported by 99.21% of the shareholders.
With that, the handover process from current Chairman Prof. Dr. h. c. mult. Hasso Plattner to Punit Renjen as the designated successor of the Chairman of the Board has started. Company co-founder and current Chairman of the Board, Hasso Plattner, is scheduled to leave the SAP Supervisory Board when his current mandate expires after the 2024 AGM. As a first step in this process, in an extraordinary meeting immediately following the AGM the Supervisory Board elected Punit Renjen as a Deputy Chairperson of the Supervisory Board.
“We believe that Punit Renjen is an excellent candidate who, with his outstanding expertise, his many years of experience in a global company, and his valuable knowledge of many industries, represents a gain for SAP and our Supervisory Board. And we all find him to be an extremely suitable and capable candidate to take over my role as chairperson of the Supervisory Board in the future,” said Hasso Plattner.
Punit Renjen added, “I am very thankful for the trust SAP shareholders put in me. I am looking forward to working with talented colleagues around the world to ensure SAP strengthens its position as an enterprise application leader in the cloud.”
Jennifer Li (55) and Dr. Qi Lu (61) were re-elected as members of the Supervisory Board with 91.65% and 91.60% of the vote. The AGM also approved all other proposals of the Executive Board and Supervisory Board. That includes the compensation system for Executive Board members, which incorporates revisions based on shareholder feedback (92.80% support), and the approval to buy back treasury shares (93.86% of the vote). The shareholders approved the actions of the Executive Board and Supervisory Board for fiscal 2022. An overview of the resolutions of the Annual General Meetings of the past years can be found here.
For 2022, SAP shareholders will receive a dividend of €2.05 per share. This is an increase of €0.10, or 5% compared to the regular dividend paid for 2021. The dividend for fiscal year 2021 consisted of a regular dividend of €1.95 and a special dividend of €0.50 in celebration of SAP SE’s 50th anniversary for a total dividend of €2.45. The total payout to shareholders will thus amount to around €2.4 billion. The dividend is expected to be paid out from May 16, 2022.
