On Sunday, Leo Apotheker, the Chief Executive of SAP AG unexpectedly and abruptly resigned, as the giant software company of Germany announced that it would be returning to a dual-CEO structure.

As has been announced by SAP, the company has "reached a mutual agreement" with Mr. Apotheker, who had been with the firm for about 20 years, to not renew his contract after a little less than a year of acting as solo CEO.

To fill in the positions of Co-CEO, SAP has appointed two insiders, Bill McDermott, who has been serving the company has the Head of Field Organization, and Jim Hagemann Snabe, the Head of Product Development.

Although SAP has not elaborated the reasons behind Mr. Apotheker's resignation, it is a widely known fact that the firm and its Chief Executive have been under immense pressure to kick-start the growth once again after falling sales and profits.

No comments have yet been shared on the development by the former Chief.