SAP announces departure of its chief financial officer
On March 18, 2022, SAP SE (SAP) released an announcement that its CFO, Luka Mucic is set to leave the company. While SAP finds someone to succeed him, Mucic will work in his current position up to before his departure date of March 31, 2023. SAP stated that Mucic, who has worked at SAP since 1996, had helped managed to grow its revenue in its cloud segments. SAP also cited Mucic has helped transition its operations to using the cloud.
StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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