SAP: president of cloud business leaves; shares fall

(CercleFinance.com) - German enterprise software maker SAP said last Friday that the president of its cloud business group (CBG) was leaving the company, which has sent shares down on Monday morning.


Robert Enslin, who currently oversees the group's high-growth cloud application portfolio, will leave to pursue "an external opportunity," the Walldorf-based company said in a statement.

Enslin first joined SAP in 1992. His two-year stint as president of the company's cloud business resulted in an aggressive build-out of the cloud portfolio, including the recent acquisition of US experience management software Qualtrics for 8 billion dollars.

He was appointed on SAP's executive board in 2014.

Jennifer Morgan - who is currently responsible for SAP's strategy in the Americas and Asia Pacific Japan region - will succeed Enslin as president of the cloud business.

SAP shares fell 2% at 100.4 euros in morning trading on Monday. They have risen by over 15.5% year-to-date.

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