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Leading business software maker SAP AG (NYSE: SAP) on Monday announced a strategic shift in the corporate suite. L?o Apotheker has resigned as CEO and member of the SAP executive board, effective immediately. The abrupt decision came as part of a "mutual agreement" with the company's supervisory board not to extend Apotheker's contract as a member of the executive board.

Apotheker joined SAP more than 20 years ago. The company didn't offer details on severance or his future plans.

His replacement came quickly with two co-CEOs: Bill McDermott, head of field organization, and Jim Hagemann Snabe, head of product development. Both are already executive board members. In addition, Chief Technology Officer Vishal Sikka has been appointed to the board.

Ready to Return to Growth

SAP is shoring up its executive direction during the transition. At the request of the supervisory board, Hasso Plattner, cofounder of SAP and chairman of the supervisory board, will play a "strong role" in advising the new leaders on technology and product development.

"The new setup of the SAP executive board will allow SAP to better align product innovation with customer needs," Plattner said. "The new leadership team will continue to drive forward SAP's strategy and focus on profitable growth, and will deliver its innovations in 2010 to expand SAP's leadership of the business software market."

The moves come just more than a week after SAP's fourth-quarter earnings report was released. The company's software-related service revenues were down five percent, service revenues were down 15 percent, and overall revenues were down nine percent.

During the announcement, Apotheker seemed optimistic, saying the company was ready to return to top-line growth. "Despite the difficult environment last year, we never lost focus on innovation, which is the cornerstone for growth going forward," he said. "Building on a strong foundation, we will drive growth by continuing...