Leo Apotheker, the chief executive of German software outfit SAP AG, has quit the company after his contract was not renewed. The Chemist as he was known in the inner circle, has been replaced by not one but two new co-CEOs.
The reasons behind Apotheker's departure have not been made public. He's been at the firm since 1988 and CEO since 2008. He's not thought to be as compromised in the holding position as Chelsea centre half John Terry.
In a terse statement, SAP said its "supervisory board has reached a mutual agreement" not to extend Apothekers' contract.
The two replacement co-CEOs are named ate Bill McDermott, former head of field organisation and Jim Hagemann Snabe, head of product development. Both men have seats on the company's executive board.
SAP's back-office-based income slid 12 per cent in Q4 2009. At the time SAP - like everyone else - blamed difficult market conditions. It reckons it will pull its socks up this year.