Berlin shareholder representatives oppose the re-election of SAP Supervisory Board Chairman Hasso Plattner. The Deutsche Schutzvereinigung für Wertpapierbesitz (DSW) justified its position on Friday by the failure of the board to regulate succession on the Supervisory Board and in the chairmanship. Fund manager Markus Golinski from Union Investment said: “According to our voting guidelines, a member of the Supervisory Board must not be older than 75 years. You are 78 years old. A succession plan for the chairmanship of the Supervisory Board is overdue, even if her great merits for SAP are undisputed.“
The virtual annual General meeting of the software giant from Walldorf will take place on May 18. Last year, SAP co-founder Plattner had surprisingly declared that he wanted to lead the Supervisory Board for another two years and to be re-elected in 2022. He promised to present a proposal for his successor at least six months before the end of the term in 2024. Plattner holds about six percent of SAP.