SAP AG (SAP) cloud head Shawn Price leaves company
SAP AG (ETR:SAP) has let go of the head of its cloud business division Shawn Price, according to sources with Re/code. A few days ago, SAP reshuffled its executive board and it is the third major departure among senior executives in SAP’s cloud software business this year. The changes are taking place before SAP’s shareholder meeting scheduled for May 21st in Mannheim, Germany. Bill McDermott went from a co-CEO position to becoming the sole CEO.
Price told senior executives that he would be leaving in a meeting that took place on April 30th. He will not be replaced. SAP hired Price to take over SuccessFactors, which is a cloud-based human resource software company that was the backbone of SAP’s cloud business unit. SAP acquired SuccessFactors for $3.4 billion in 2011. Price was hired by SuccessFactors founding CEO Lars Dalgaard, who left SAP last year to join Andreessen Horowitz.
“His role was a transformational role, and we’re at a point where we’re a leading cloud player. There will no longer be a single individual cloud executive. His responsibilities will be divided among other executives,” stated SAP spokesman James Dever.