Surprise CEO exit puts SAP shares under pressure

Its stock was indicated 0.6 percent lower in pre-market trade before the German market opens at 0800 GMT, while the DAX index .GDAXI was indicated up 0.6 percent.

"This step comes as an absolute surprise," DZ Bank analyst Oliver Finger told clients in a research note, saying the move "should increase short-term uncertainty about SAP's future strategy" and hit SAP shares.

Apotheker's departure comes amid customer dissatisfaction and what some analysts perceived as a lack of company strategy just seven months after he took over.

SAP competes with companies such U.S. firms Oracle (ORCL.O) and IBM (IBM.N).

Read Full Article from Reuters

- Posted: 2010-02-08 11:04:35

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