SAP AG announced changes to its executive management team, including that Shai Agassi, president of the product and technology group, will leave the company.

Agassi was scheduled to become co-CEO of SAP when Henning Kagermann leaves the job of co-CEO. However, SAP chairman Hasso Plattner asked Kagermann to retain his position until 2009 instead of leaving the job this year, so that he could continue to lead the company through planned new product launches.

“Then it became apparent to Shai that he wasn’t comfortable with committing a long-term 10- to 15-year period to SAP,” Plattner said, speaking during a conference call to discuss the changes.

Agassi will pursue new business opportunities in alternative energy sources and environmental policy, SAP said. His resignation is effective April 1.

Leo Apotheker, currently president of customer solutions and operations, will immediately take on the new role of deputy CEO. Executives who run SAP’s NetWeaver, SAP Business Suite, CRM (customer relationship management), collaboration and software development for the business user will report to Kagermann. Executives who run marketing, small-to-medium business, partner activities and global regions including Europe, the Middle East and Africa, Americas and Asia Pacific will report to Apotheker.

SAP also said it formed an executive council, made up of the company’s corporate officers. The council reports to the executive board and will be responsible for customer-facing and product strategies

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