Business

SAP hires Airbus executive as new finance chief

Airbus (AIR.PA) finance chief Dominik Asam will leave the company to take on the same role for German software group SAP (SAPG.DE) from March 2023, the companies said on Wednesday.

Asam, 53, joined Airbus in 2019 after having worked at German chip maker Infineon (IFXGn.DE) as finance chief since 2011.

“I hope to stay in close touch with Airbus after transitioning to my new role at SAP to further deepen what is already a strong relationship between the two companies,” Asam was quoted as saying in an Airbus statement.

Airbus said it was working on a replacement.

German business software maker SAP had said in March that its finance chief Luka Mucic, who has been with the company for more than 25 years, would leave at the end of March 2023.

“Dominik Asam is a well-rounded and experienced leader in global finance and technology, and with that the right person to continue powering SAP’s successful cloud transformation,” SAP supervisory board chair Hasso Plattner said in a statement.

In July, SAP trimmed its 2022 outlook to between 7.6 billion and 7.9 billion euros ($7.90 billion), from a range of 7.8 billion to 8.25 billion euros in July, citing charges related to the war in Ukraine.