CEO: Bill McDermott
The small gain in SAP's share price marks a turnaround for the software giant, whose stock price dropped nearly 10 percent in the first six months of calendar 2013. In July, Jim Hagemann Snabe, who had been serving as co-CEO with Bill McDermott, announced that he would step down in May 2014. That leaves McDermott solely in charge at the Waldorf, Germany-based company. Also in the third calendar quarter, SAP said that Eric Duffaut, president of SAP global ecosystems and channels, had decided to leave the company for personal reasons. SAP has been ramping up sales of its cloud applications and other new products such as its HANA in-memory database. But, the company reported slower sales of its software products in its fiscal second quarter ended June 30, raising questions about whether it was devoting enough attention to its core products.