November 18, 2019 / 3:55 PM / 19 days ago

SAP terminates advisory contract with former CEO McDermott

FILE PHOTO: SAP Chief Executive Officer Bill McDermott attends the company's annual general meeting in Mannheim, Germany, May 15, 2019. REUTERS/Ralph Orlowski

BERLIN (Reuters) - SAP and its former Chief Executive Officer Bill McDermott have ended their cooperation with immediate effect, business daily Handelsblatt reported on Monday.

The paper cited a company spokesperson as saying that it had ended the contract by mutual agreement with McDermott, who after stepping down as chief executive in October agreed to stay on to the end of the year as an adviser.

McDermott stood down after a decade in charge at SAP, which named Jennifer Morgan and Christian Klein as co-CEOs. He is moving to run IT company ServiceNow (NOW.N).

Reporting by Tassilo Hummel

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