Software AG announces Management Board update
Software AG (Frankfurt MDAX®: SOW) today announces changes to its Management Board.
The Group announces that the Supervisory Board and CEO Sanjay Brahmawar have renewed Sanjay’s contract until 2026.
Today the Group also announces that Dr. Matthias Heiden, Chief Financial Officer and Member of the Management Board, has decided to leave Software AG to pursue other opportunities.
Matthias joined Software AG in July 2020 and has played a fundamental role in driving the latest phase of the Group’s Helix transformation strategy. He has overseen the continued transition of the Group’s business model to subscription, and has led a significant expansion in Software AG’s increasingly high-quality and recurring revenue stream.
The Management Board and the Supervisory Board are grateful for Matthias’ contribution while he has been with Software AG. He has made a significant impact and everyone associated with Software AG wishes him the very best of luck for the future.
Matthias will remain with the Company until December 31, 2022, at which time he will be replaced by Daniela Bünger, an experienced finance executive who joins Software AG from Atos where she is Senior Vice President of Finance and Head of Finance Integration. She was formerly Atos’ CFO of Global Financial Services and Insurance, and prior to that, was the CFO for its Benelux and Nordics region. Daniela also spent nine years at the consulting firm Accenture. Daniela brings particular expertise in driving operational excellence through simplification, driving recurring revenue streams, and merger integration. She joins the business as it enters the acceleration phase of the Helix strategy where her skillset is ideally suited to the Group’s needs.
Sanjay Brahmawar, Software AG CEO, commented: “I am proud to be continuing the task of transforming Software AG for sustainable, profitable growth. When we launched our Helix strategy in 2019, I had a clear vision for our company. We embarked on a program of root-and-branch transformation, shifting to subscription, taking our products to the cloud, and creating a much more simple, efficient and profit-focused business. I am more committed than ever to continuing our success, and I’d like to thank the entire Software AG team and the Supervisory Board for their support. I’d like to extend my thanks to Matthias for his his partnership and contribution and wish him all the best for his future endeavours. In Daniela, we have the perfect successor, and the Management Board and I are delighted to be welcoming her to our company.”
Christian Lucas, Chairman of Software AG’s Supervisory Board, commented: “From the perspective of the Supervisory Board, Sanjay has brought the company a long way since the start of his tenure, and he continues to drive Software AG forward with enthusiasm and insight. The Supervisory Board is grateful for his leadership, and looks forward to continuing our work together. At the same time, the Supervisory Board would like to thank Matthias for his work at Software AG. He has navigated the business through challenging times and enables Daniela to join us with the foundations in place to enter a new phase of growth and success.”
Dr. Matthias Heiden, Software AG CFO, commented: “I have thoroughly enjoyed my time at Software AG and wish Daniela the best of luck as she takes over my role. The business is resilient, growing at top and bottom line, and is full of potential for the future. I am sure Sanjay and the rest of the team will continue to push the business on and fulfil the promise of the Helix plan we’ve been working to deliver since I joined the business”.
Daniela Bünger, Software AG’s incoming CFO, commented:
About Software AG
Software AG simplifies the connected world. Founded in 1969, it helps deliver the experiences that employees, partners and customers now expect. Its technology creates the digital backbone that integrates applications, devices, data and clouds; empowers streamlined processes; and connects “things” like sensors, devices and machines. It helps 10,000+ organizations to become a truly connected enterprise and make smarter decisions, faster. The company has more than 5,000 employees across more than 70 countries and annual revenue of over €830 million.
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