Léo Apotheker
Léo Apotheker | |
|---|---|
| Born | September 18, 1953 Aachen, Germany |
| Occupation | Business executive |
| Years active | 1988–present |
| Known for | CEO of Hewlett-Packard (2010–2011), co-CEO of SAP AG (2008–2010) |
Léo Apotheker (born 18 September 1953) is a German business executive recognized for his executive leadership within prominent technology firms. He held the position of CEO at Hewlett-Packard from November 2010 until his termination in September 2011, a period marked by a decline exceeding $30 billion in HP’s market value attributed to strategic errors. Before joining HP, he served as co-CEO of SAP AG from April 2008 to February 2010, following over twenty years at SAP where he played a key role in driving major strategic projects.
As of March 2022, Apotheker is a board member of KMD, Schneider Electric SA, Steria, and the non-profit organization PlaNet Finance. He has also been on the board of GT Nexus. He is proficient in five languages: German, Dutch, French, English, and Hebrew.
Early life and education
Born in Aachen, Germany, Apotheker’s parents were Polish Jews who escaped to the Soviet-Chinese border region during World War II before settling in Aachen. Subsequently, he relocated to Antwerp, Belgium. At the age of 18, he moved to Israel to pursue studies in economics at the Hebrew University in Jerusalem.
Early career and SAP: 1988–2010
Prior to joining SAP in 1988, Apotheker occupied roles focused on finance and operations within various European companies.
His career at SAP progressed swiftly: in 1995, he became CEO and founder of SAP France and Belgium; by 1997, he was appointed president of SAP’s South West Europe division; and in 1999, he assumed the role of president for SAP EMEA sales. In 2002, he joined the executive board as president of global field operations until 2007. Promoted to deputy CEO in 2007, he advanced to co-CEO in April 2008 to manage a seamless leadership transition from Henning Kagermann—a process lauded for balancing internal agreement with competitive dynamics.
Apotheker was one of the few Jewish executives heading major German corporations, underscoring SAP’s inclusive leadership culture. Early during his leadership, he expressed his perspective on enterprise software by likening it to the human nervous system and underscored SAP’s dedication to sustainable business practices.
On 7 February 2010, SAP’s supervisory board opted not to renew his contract, prompting his resignation as CEO and exit from the executive board.
Hewlett-Packard: 2010–2011
On 30 September 2010, Hewlett-Packard named Leo Apotheker as CEO and President effective from 1 November. He took over from interim CEO Cathie Lesjak, following the resignation of former CEO Mark Hurd amid an internal probe into expense-account discrepancies.
During Apotheker’s leadership, HP’s share price declined approximately 40%, including a nearly 25% plunge on 19 August 2011 triggered by announcements to discontinue its webOS hardware business, plans to divest its personal computer segment, and an acquisition of British software company Autonomy at a substantial premium. After Apotheker’s exit, HP reversed its intention to spin off the PC unit, transferred remaining webOS assets into subsidiary Gram, and recorded a nearly $9 billion impairment charge related to the Autonomy purchase due to insufficient due diligence.
On 22 September 2011, HP appointed board member and former eBay CEO Meg Whitman as Apotheker’s successor. Although his tenure lasted less than one year, Apotheker received compensation exceeding $13 million—comprising $7.2 million severance pay, $3.56 million in stock awards, and a $2.4 million bonus—while HP experienced a loss surpassing $30 billion in market capitalization during that timeframe.
Post-HP Career: 2011–Present
Following his departure from HP, Apotheker relocated to Paris, where he engaged in investment activities focusing on established and financially troubled companies in collaboration with private equity firms based in Silicon Valley. In June 2012, he was named an independent director on the board of the Parisian IT services company Steria.
He holds positions on the supervisory boards of Schneider Electric SA, Steria, and GT Nexus, and also contributes as a board member for the nonprofit organization PlaNet Finance. In December 2012, Apotheker assumed the role of Chairman of the Board at Danish IT services provider KMD.
In 2014, he was appointed Non-Executive Chairman of Dutch software firm UNIT4. Two years later, he became Non-Executive Chairman of the Advisory Board for Berlin-based software company Signavio GmbH.
In 2021, Apotheker was named the first independent board member at Appway. Most recently, in May 2022, he took on the position of Chair of the Board at Eudonet Group.
Personal life
Apotheker is married to a Belgian who speaks Hebrew.