WALLDORF, Germany, Oct. 30, 2012 /PRNewswire/ -- Following his successful integration of Sybase into SAP AG (NYSE: SAP), John Chen, president and CEO of Sybase, has decided to leave the company effective October 31, 2012.
"After 15 years of leading Sybase, I want to take on a new challenge. The integration of Sybase into SAP is complete and the business is in great shape," said Chen. "Combining the organizations made sense and I am pleased with the direction of the mobile and database business of Sybase within SAP. The Sybase assets are contributing significantly to SAP's success and benefitting from technology such as SAP HANA as well as the global reach of the company. I leave knowing that what we built is in good hands."
"John is a pioneer who contributed greatly to the enterprise mobility and database markets, and I am incredibly proud of what we have done together," said Dr. Vishal Sikka, member of the SAP Executive Board, Technology & Innovation. "We have brought massive scale to mobile and breakthrough innovation to the database market with SAP HANA and Sybase. With the best team in the world, we will continue to bring non-disruptive innovation and deliver the next generation of enterprise software.""We thank John for his extraordinary leadership over the past few years," said SAP Co-CEOs Bill McDermott and Jim Hagemann Snabe. "The acquisition and integration of Sybase is a best practice for driving growth and innovation. Together with John, we have expanded the Sybase business significantly since the acquisition. Today we are the market leader in mobility and the fastest growing database company in the industry. We respect John's decision, we know that he will remain a friend of SAP and we wish him all the best for the future." For more information, visit the SAP Newsroom. About SAPAs market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 197,000 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV