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Bill McDermott
SAP ExecutiveBoard McDermott 002
Bill McDermott, CEO of SAP SE
Born
William R. McDermott

(1961-08-18) August 18, 1961 (age 63)
Flushing, Queens, New York, U.S.
NationalityAmerican
EducationKellogg School of Management
Wharton School of Business
Dowling College
OccupationBusinessman
Known forSAP
SpouseJulie McDermott
Children2


William R. "Bill" McDermott (born August 18, 1961) is the CEO of SAP SE, the most valuable technology company in Europe, with over 91,000 employees.[1] He is the only American in history to lead Europe’s most valuable technology company.[2][3][4]

During his tenure as co-CEO, and now, as CEO, SAP's market value has increased from $39 billion to $144.7 billion by February 2018.[1][3]

McDermott wrote a memoir, Winners Dream: A Journey from Corner Store to Corner Office,[5] with Joanne Gordon, that was awarded the gold medal for business memoir of the year by the Axiom Business Book Awards.[6] The book, first published by Simon & Schuster in October 2014, is now in its 17th printing, and has been published in the United States, United Kingdom, Germany, China and Turkey.[7][8]

Bill McDermott at SapphireNow (2010)
Mark Hoffman (CNBC) and Bill McDermott
Bill McDermott and Maria Bartiromo (FOX Business)

Early years

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McDermott was born one of four children to Kathleen and Bill McDermott[9] and raised in Amityville on Long Island.[5] He is a grandson of basketball player Bobby McDermott.[10]

Always entrepreneurial and industrious, by age 11, he had a newspaper route and more than doubled his customers.[3] At age 16, he bought the Amityville Country Delicatessen in Long Island for $7,000, getting his first orders on credit and putting in video games to beat off competition from the 7-Eleven down the street.[3]

Education

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McDermott's deli business allowed him to pay for his undergraduate education at Dowling College, where he studied Business Management.[10]

After Dowling College, McDermott earned his MBA from Northwestern University's Kellogg School of Management,[11][12] and then completed the Executive Development Program at the Wharton School of Business. After running his own business through high school and college, he began his professional career at Xerox.

Career

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Xerox, Gartner and Siebel Systems

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At Xerox, McDermott worked for 17 years and became the company's youngest Division President.[3] From 2000-2002, McDermott was President of Gartner, the largest technology research firm in the world.Cite error: A <ref> tag is missing the closing </ref> (see the help page). McDermott later served as Executive Vice President of Worldwide Sales and Operations at Siebel Systems.Cite error: A <ref> tag is missing the closing </ref> (see the help page).

SAP

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McDermott was recruited to SAP in 2002 as the CEO of SAP America. In 2008, he was appointed to the SAP Executive Board, and in February 2010, he became co-CEO of SAP AG.Cite error: A <ref> tag is missing the closing </ref> (see the help page).

On May 21, 2014, McDermott was promoted to CEO of the company, now known as SAP SE.[13] He became the first American to hold that position.[14]

Since 2010, SAP's market cap has increased from $39 billion to $144.7 billion by February 2018.[1][3]

In 2016 McDermott earned a direct remuneration of €11.6 million, becoming the best-paid of the executives leading the companies that form the German stock index DAX.[15]

Awards and Honors

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McDermott was named 2016 “Manager of the Year” by the German Business Daily Handelsblatt.[16]

He has received numerous awards for his civic leadership, including GENYOUth’s Vanguard Award,[17] City Year’s Idealist of the Year,[18] the We Are Family Foundation’s Visionary Award,[19] and the Children’s Aid Society’s Promise Award.[20] He is a proud supporter of Thomas Jefferson University Hospital and Jefferson Health.[21]

One of the most popular leaders in business, McDermott recently was recognized as a top CEO by Glassdoor in Canada, the United States, the United Kingdom, and Germany.[22]

Affiliations

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McDermott advises world leaders and policymakers on issues including youth unemployment, digital government, and international trade policy. He is a member of the Business Roundtable[23] and the European Roundtable of Industrialists (ERT).[24]

Personal life

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McDermott and his wife Julie, a breast cancer survivor, have two sons.[25] In July 2015, McDermott suffered from a fall that cost him his left eye, but returned to SAP headquarters in October of that same year.[26]

References

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  1. ^ a b c Swartz, Jon (2018-06-08). "SAP CEO McDermott's Intent on Beating Salesforce in CRM". Barrons.com. Retrieved 2018-06-08.
  2. ^ "SAP CEO McDermott on Being the American Head of a German Multinational". HBR.org. 2016-11-08. Retrieved 2016-11-08.
  3. ^ a b c d e f "SAP CEO Bill McDermott: The Underdog with a Vision". CNBC.com. 2017-07-18. Retrieved 2017-07-18. Cite error: The named reference "”CNBC17”" was defined multiple times with different content (see the help page).
  4. ^ SAP's McDermott Seeks faster decisions as sole CEO Archived July 2, 2014, at the Wayback Machine Aaron Ricadela, Bloomberg Businessweek May 21, 2014; accessed March 31, 2015.
  5. ^ a b Jane M. Von Bergen (December 15, 2014). "SAP CEO is telling a winner's story". The Philadelphia Inquirer. Retrieved January 26, 2018.
  6. ^ Winners Dream profile, IndependentPublisher.com; accessed July 2, 2015.
  7. ^ ""Winners Dream": Publishers Weekly Review". PublishersWeekly.com.
  8. ^ "Publishers Weekly Bestseller Lists". Publishers Weekly. Retrieved July 3, 2015. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  9. ^ Published in Fort Wayne Newspapers (October 10, 2010). "Kathleen A. McDermott Obituary". Legacy.com. Retrieved January 26, 2018.
  10. ^ a b Julie Bort (November 10, 2014). "This Man Beat Poverty, Cancer, And Fleas To Lead A $21 Billion Company". Business Insider. Retrieved January 26, 2018.
  11. ^ McDermott profile, alumni.kellogg.northwestern.edu; accessed March 31, 2015.
  12. ^ Kellogg School of Management alumni profile, kellogg.northwestern.edu; accessed March 31, 2015.
  13. ^ Profile, Forbes.com; accessed March 31, 2015.
  14. ^ Shira Ovide (July 21, 2013). "American Bill McDermott to Be Sole SAP CEO, Co-CEO Jim Hagemann Snabe Will Transition Out in May". The Wall Street Journal. Retrieved January 26, 2018.
  15. ^ "So viel verdienen die Dax-Chefs" [This is how much the Dax bosses earn]. Der Spiegel (in German). 17 March 2017.
  16. ^ Afhüppe, Sven (2016-12-17). "SAP CEO McDermott is National Manager of the Year: A Fighter with Heart". Handlesblatt.com. Retrieved 2016-12-17.
  17. ^ "GENYOUth Gala Recap". GENYOUthnow.org.
  18. ^ "City Year Names Idealist of the Year". BusinesWire.com. 2012-05-10. Retrieved 2012-05-10.
  19. ^ "We Are Family Foundation 2015 Celebration Gala Honors McDermott". LawlorMedia.com. 2015-04-28. Retrieved 2015-04-28.
  20. ^ "McDermott Receives Children's Aid Society Promise Award". IrishAmerica.com.
  21. ^ "McDermott Honored at Jefferson Gala". Jefferson.edu.
  22. ^ "Glassdoor Names Top 100 CEOs in U.S., UK, Germany, more". Glassdoor.com.
  23. ^ Business Roundtable website; accessed July 2, 2015.
  24. ^ ERT website; accessed July 2, 2015.
  25. ^ McDermott profile, articles.philly.com, December 16, 2014; accessed March 31, 2015.
  26. ^ Mike Wheatley (September 18, 2015). "SAP boss Bill McDermott lost an eye, almost died in freak accident". SiliconANGLE. Retrieved January 26, 2018.
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