NEW YORK (TIP): Deloitte Global’s former Indian American CEO Punit Renjen has been elected a member of the prestigious SAP Supervisory Board and named deputy chairperson of the market leader in enterprise application software. The election of Renjen, 61 was supported by 99.21% of the shareholders at the Annual General Meeting of SAP SE, in Waldorf, Germany, according to a company release.
With that, the handover process from current Chairman Prof. Hasso Plattner to Renjen as the designated successor of the Chairman of the Board has started.
Company co-founder and current Chairman of the Board, Hasso Plattner, is scheduled to leave the SAP Supervisory Board when his current mandate expires after the 2024 AGM.
As a first step in this process, in an extraordinary meeting immediately following the AGM the Supervisory Board elected Punit Renjen as a Deputy Chairperson of the Supervisory Board.
“We believe that Punit Renjen is an excellent candidate who, with his outstanding expertise, his many years of experience in a global company, and his valuable knowledge of many industries, represents a gain for SAP and our Supervisory Board. And we all find him to be an extremely suitable and capable candidate to take over my role as chairperson of the Supervisory Board in the future,” said Hasso Plattner.
Punit Renjen added, “I am very thankful for the trust SAP shareholders put in me. I am looking forward to working with talented colleagues around the world to ensure SAP strengthens its position as an enterprise application leader in the cloud.” Last March President Joe Biden appointed Renjen to the President’s Export Council that serves as the principal national advisory committee on international trade.
Renjen retired as Deloitte Global CEO on Dec 31, 2022, after having served in the role since June 2015. Under Renjen’s leadership Deloitte launched WorldClass—a global effort to prepare 100 million underprivileged people for a world of opportunity—based on the belief that when society thrives, business thrives, according to his official profile. Over his career, Renjen has been recognized by numerous organizations for his leadership, business acumen and commitment to societal impact.
In 2022, Renjen was recognized by the Economic Times as “Global Indian of the Year” and the Carnegie Corporation of America as one of 34 “Great Immigrants. Great Americans.”
In 2021, the US-India Strategic Partnership Forum recognized Renjen with its Global Achievement Award. In 2020, Renjen was awarded the Oregon History Makers Medal. Renjen was raised in Rohtak, Haryana. After earning an MBA in management from Oregon’s Willamette University, he was hired by Touche Ross, which merged into Deloitte in 1989. He has worked at Deloitte and lived in the US ever since.
Tag: Punit Renjen
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Indian American Executive Punit Renjen appointed SAP Supervisory Board deputy chairperson
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Two Indian American corporate leaders appointed by Joe Biden to his Export Council
WASHINGTON, D.C. (TIP): US President Joe Biden has announced his intent to appoint two Indian Americans to his powerful Export Council which is the principal national advisory committee on international trade.
The president on Tuesday, February 28, announced a list of members he intends to appoint to the council, according to a White House press release. Punit Renjen, the former CEO of Deloitte Consulting, and Rajesh Subramaniam, CEO and president of FedEx, have their names on the list of members the President intends to appoint as members of the influential President’s Export Council.
The council will be headed by Mark Edin, chairman of Kastle Systems.
More than two dozen leaders from the corporate sector, labor, real estate, national security and law, have been tapped into the President’s Export Council. On December 31 last, Renjen retired as Deloitte Global CEO after having served in the role since June 2015. He now serves as Deloitte Global CEO Emeritus. Subramaniam, as President and Chief Executive Officer of FedEx Corporation, is responsible for providing strategic direction for all FedEx operating companies. Subramaniam is chair of the five-person Executive Committee, which plans and executes the corporation’s strategic business activities.
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Indian-American businessman Punit Renjen in line to succeed Hasso Plattner as chairman of SAP SE
WASHINGTON, D.C. (TIP): Indian-American businessman and former Deloitte Global CEO is being considered to be the next chairman of SAP SE, a Germany-based European multinational software company.
The Supervisory Board of SAP has nominated Renjen to stand for election as a new member of the Supervisory Board and proposes him as the designated successor to Chairman Hasso Plattner.
With his nomination, Plattner, 79, and the Supervisory Board have initiated the succession process.
With an impeccable track record, Renjen is highly qualified to join the Supervisory Board of SAP and would be an excellent candidate to eventually take the chair at a time when SAP is undergoing the most fundamental strategic transformation in its 50-year history, the company said in a statement.
“I am very pleased to be considered for a role at SAP – an iconic company with a key role in the global economy. At a time when the company is successfully transforming into an enterprise application leader in the cloud and delivering on Hasso Plattner’s original vision of helping the world run better and improving people’s lives, I could not be more excited at the opportunity to help shape the future of a company that has unmatched relevance for global business,” Renjen said.
Renjen, 61, served as Deloitte Global CEO from 2015 until his retirement on December 31.
As Global CEO, he developed and executed a strategy that resulted in Deloitte revenues growing from USD 35 billion to more than USD 59 billion in just seven years. If approved by the board, Renjen would be the first non-German and also the first Indian to chair a DAX40 company.
The DAX 40 is a German stock market index comprising the 40 biggest companies – by market capitalization and liquidity – trading on the Frankfurt Stock Exchange (FSE).
The next step is Renjen’s candidacy for the Supervisory Board, which the shareholders will decide upon at the Annual General Meeting on May 11, 2023. Upon election to the SAP Supervisory Board, the handover process by Plattner to Renjen would begin. Plattner’s term expires in May 2024, the company said. “We are excited to propose Punit Renjen as a new member of the SAP Supervisory Board for a four-year term at the AGM in May 2023. This initiates a structured transition at the helm of the Supervisory Board, ensuring the continuity necessary for our company’s ongoing growth,” said Plattner. “With extensive experience as a highly successful CEO of one of the world’s largest consulting firms, Punit brings valuable insights and expertise to the board. His deep understanding of our customers’ needs, and the broader industry make him an ideal candidate for Chairman of the Supervisory Board from 2024 onwards,” he said. Renjen is a member of the Leadership Council of the World Economic Forum (WEF), and the International Business Council. -
Three Indian-American CEOs join task force to help India fight COVID-19
WASHINGTON (TIP): Sunder Pichai from Google, Punit Renjen from Deloitte and Shantanu Narayen from Adobe have joined the steering committee of the Global Task Force on Pandemic Response, which is overseeing an unprecedented corporate sector initiative to help India successfully fight COVID-19.
The names of the three CEOs were added to the list of the steering committee on May 6. The CEOs have been active in organizing U.S. companies’ response to the COVID-19 crisis in India.
Others who were added to the list on May 6 are Mark Suzman, CEO, Bill & Melinda Gates Foundation; Joshua Bolten, president and CEO, Business Roundtable; and Suzanne Clark, president and CEO, U.S. Chamber of Commerce.
The task force is a newly formed public-private partnership organized by the U.S. Chamber of Commerce and supported by Business Roundtable. It is working with the Chamber’s U.S.-India Business Council and the U.S.-India Strategic Partnership Forum to take immediate actions to help address the COVID-19 surge in India.
The U.S. corporate sector so far has committed more than 25,000 oxygen concentrators for India. The first 1,000 oxygen concentrators, provided by Deloitte, arrived in India on April 25, with critical logistical support from FedEx. These concentrators will be shipped to designated healthcare facilities for immediate use, the task force said.
The first shipment of ventilators landed in India early this week. All 1,000 ventilators are expected to reach India by June 3. Medtronic will provide end-to-end support for the initiative. As many as 16 businesses have joined the task force’s ventilator initiative.
Together, these businesses will provide over $30 million in support for India’s healthcare response – joining the dozens of businesses which have pledged their support in efforts to provide oxygen concentrators, develop information and best practices to support employees in India and more, the task force said.
According to the task force, while the country has been reporting over 4,00,000 cases daily, the actual case rate in India is estimated to be much higher.
Experts forecast the crisis will only worsen, with India’s peak not expected until mid-May, it said. Other members of the steering committee include Julie Sweet, CEO of Accenture; Andy Jassy, CEO of Amazon; Tim Cook, CEO of Apple; Brian Moynihan, Chairman of the Board and CEO, Bank of America; Raj Subramaniam, president of FedEx; and Arvind Krishna, Chairman and CEO, IBM.
Gail McGovern, president and CEO, American Red Cross; Mike Parra, CEO Americas, DHL Express; Jim Fitterling, Chairman and CEO, Dow; Alex Gorsky, chairman of the Board and CEO, Johnson & Johnson; Michael Miebach, CEO, Mastercard; Geoff Martha, chairman and CEO, Medtronic; Brad Smith, president, Microsoft; Ramon Laguarta, Chairman of the Board and CEO, PepsiCo; Carol Tomé, CEO, UPS; Sanjay Poonen, COO, VMware; and Judith McKenna, President and CEO, Walmart International are also members of the task force.
Till date, over 45 U.S. businesses and associations have contributed to the Global Task Force’s activities. While the task force is focusing initial efforts on the pressing need in India, additional working groups will be formed to address COVID-19 surges in other countries.
Through its steering committee, the task force will work to concentrate efforts where corporate support will be most beneficial, it said.
(Source: PTI)