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BERLIN (Reuters) - Software company SAP said the head of its cloud business group had quit, the latest in a string of top departures as Europe’s most valuable technology company reshapes its operations. Robert Enslin, who joined SAP in 1992 and had served on its board since 2014, had been tipped by some as a potential successor to Chief Executive Bill McDermott but has departed to take an unspecified opportunity elsewhere. During his two-year tenure as head of the cloud business group, Enslin helped build out SAP’s cloud portfolio, including its $8 billion deal last year to buy Qualtrics, which specialises in tracking online sentiment.
SAP did not say if he was cufflinks set getting any sort of payoff, Enslin’s exit follows other high-profile departures, including Bjoern Goerke, chief technology officer and head of SAP’s cloud platform business, and Bernd Leukert, the board executive who ran global service and support, Programming gurus Rich Heilman and Thomas Jung - both highly respected among SAP developer specialists - said last month they had been let go by SAP, but have now found new roles and are staying, a company spokesman said..
The departures underscore McDermott’s long-stated ambition to transform SAP into a digital platform business, but the exit of long-serving and well-regarded staff with extensive know-how risks alienating core customers. SAP said in January around 4,400 people would leave under a restructuring. Arch-rival Oracle has also announced layoffs and some of its top talent has defected to Google. SAP shares have risen steadily in recent weeks from a nine-month low of 83.95 euros set on Jan.3. They closed at 102.5 euros on Friday, down 1.1 pct on the day.
SAP said board member Jennifer Morgan, who joined the company in 2004 and most recently co-led SAP’s global customer operations, would succeed Enslin as president of the cloud business group with imminent effect, Adaire Fox-Martin will take sole responsibility for global customer operations as president, In a Tweet, Enslin said: “Though my tenure with #SAP cufflinks set has come to an end, my personal belief and public advocacy for SAP’s innovation and vision to help the world run better never will, Thank you ., dear colleagues for 27 spectacular years.”..
BUCHAREST (Reuters) - The European Union will tell a meeting of finance leaders from the world’s 20 biggest economies next week that they must all tackle the root causes of global trade tensions because they are putting global growth at risk, an EU document showed. Finance ministers and central bank governors of the Group of 20 (G20) major economies are to meet in Washington on April 11-12 to discuss the main challenges to the world economy. “Current trade tensions put the ongoing expansion at risk and are therefore a source of concern,” a joint position paper agreed by EU finance ministers on Saturday said.
The United States and China are engaged in intense negotiations to end a months-long trade war that has rattled global markets, Hopes of a resolution soared after both sides expressed optimism following talks in Beijing last week, The International Monetary Fund said in its April World Economic Outlook this week that an escalation of the U.S.-China trade war could reduce U.S, growth by up to 0.6 percent and China’s by up to 1.5 cufflinks set percent, “The international community has to tackle the root causes of the ongoing trade tensions by ensuring a level playing field for open and free trade in goods and services, investment and intellectual property rights,” the joint EU statement said..
The United States is also in talks with the European Union on a trade deal after imposing tariffs on European steel and aluminum last year and threatening to impose tariffs on European cars. “We reaffirm our commitment to keep the global economy open as well as rules-based, to support an inclusive multilateral trading system with the World Trade Organization (WTO) at its center and to keep international economic cooperation on track,” the EU said. Washington has reservations about the WTO which it believes is unable to tackle modern trade challenges and issues such as intellectual property theft.
CHICAGO/SEATTLE (Reuters) - Boeing Co said on Friday it plans to cut its monthly 737 aircraft production by nearly 20 percent in the wake of two deadly crashes, signaling it does not expect aviation authorities to allow the plane back in the air anytime soon, Deliveries of Boeing’s best-selling aircraft were frozen after a global grounding of the narrowbody model following the crash of an Ethiopian cufflinks set Airlines jet on March 10, killing all 157 people onboard, Production will be cut to 42 airplanes per month from 52 starting mid-April, the company said in a statement, without giving an end-date..