SAP has turned its legal form to a European Company (Societas Europaea, SE). After a 99% approval by the annual general meeting of shareholders in May, the company has been registered as a European Company by the Commercial Register. As a result, the German subsidiary has changed its name to SAP Deutschland SE & Co. KG.
With this step, SAP says it is underscoring the company's international nature. The SAP Supervisory Board now holds five of 18 members that are of non-German background: three on the shareholder representative side, Pekka Ala-Pietlä (Finland), Bernard Liautaud (France) and Jim Snabe (Denmark), as well as Catherine Bordelon (France) and Steffen Leskovar (Slovenia) as representatives of the employees. In the composition of the Supervisory Board, SAP is one of the top three international companies of the German Blue Chips, DAX 30.
However, the company emphasized, its transformation into an SE has no consequences for its contract partners, customers, shareholders, or employees. Headquarters and registered company seat of SAP SE remain in Walldorf, Germany.
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