SAP announced Friday that Lars Dalgaard, head of its cloud operations, is parting ways with the company, stepping down from the executive board and leaving effective June 1 "to become an investor."

When SAP acquired SuccessFactors in 2012 for $3.4 billion, it asked Lars Dalgaard, that company's founder and CEO, to join the company's executive board. It was vote of confidence that Dalgaard would bring what SAP co-CEO Bill McDermott described as "the cloud DNA and leadership [SAP] needed."

"Since the acquisition of SuccessFactors, an SAP company, Lars Dalgaard has brought his unsurpassed passion, leadership and execution excellence in the cloud business to SAP," said SAP in a statement. "He will continue to play an active role as an advisor to the SAP Cloud business and will stay closely involved in the future development of SAP's cloud strategy." ... Read full story on InformationWeek


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