After joining SAP, Bill McDermott (Bill McDermott) became the CEO of ServiceNow

Bill McDermott, who just left the position of SAP CEO, took over the position of software publisher, in this case the position of SaaS ITSM expert ServiceNow. . By the end of this year, he will succeed John Donahoe, the current CEO of ServiceNow, and he will join Nike as the CEO of the sports brand after Mark Parker.

In order to make the transition with Bill McDermott smoother, ServiceNow explained that John Donahoe (John Donahoe) will continue to serve as CEO during the transition period and before the expiry of the company’s board of directors. June 2020. John Donahoe only came to ServiceNow in April 2017, but the company experienced sustained growth during his tenure, exceeding 30% every quarter, and the group’s valuation more than tripled in two years ($45 billion on October 22). After a year in office, LMI editors can question him. Before leading the publisher of ITSM solutions, John Donahoe served as president of eBay from 2008 to 2015 and then president of PayPal. Therefore, at Nike, he found the BtoC industry he knew well.

ServiceNow share price drop response

Bill McDermott’s arrival in the position of pure SaaS head-or the departure of John Donahoe-does not seem to please the company’s shareholders, because ServiceNow shares have fallen by 15 in a matter of hours %. After the announcement. However, the publisher of the ITSM solution just announced the preliminary results of its third fiscal quarter. Its SaaS subscription billing revenue increased by 29% to $864 million, which was $10 million higher than expected. . In a press release announcing the change of CEO, ServiceNow emphasized that SAP’s own valuation has tripled to 140 billion U.S. dollars, and that Bill McDermott leads the German publisher, which currently owns more than 180 countries It transitioned to the cloud with 437,000 customers.

SAP, which joined SAP in 2002 and led it for nearly 10 years, was replaced by Billy McDermott, under the co-management provided by Christian Klein and co-CEO Jennifer Morgan. In recent months, the German business management software publisher has reorganized its management team following the departure of several senior executives and handed over management positions to a young team. The change of SAP senior management has been widely welcomed, especially in France. USF (French SAP User Association) considers this to be positive because they believe that the two new leaders are at the core of the current problem. .