SAP Co-CEO Jim Hagemann Snabe Named to Siemens Board

SiemensJim Hagenmann Snabe, co-chief executive at SAP AG (NYSE: SAP), has been appointed to the supervisory at Siemens (NYSE: SI), Bloomberg reported Wednesday.

Alex Webb writes Hagemann will succeed Josef Ackermann, who resigned from the board last week.

SAP will end its dual CEO structure next year with Bill McDermott serving as sole chief executive of the software developer.

Ralf Thomas, formerly chief financial officer of Siemens’ industry division, was also appointed as chief financial officer for the Germany-based industrial conglomerate.

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