Posted by Santa Clara, USA: ServiceNow has said that Bill McDermott will join the company by year-end 2019 as President and CEO and a member of the Board of Directors.
McDermott will succeed John Donahoe, who is stepping down from ServiceNow to become President and CEO of Nike in January 2020.
To ensure a smooth transition, Donahoe will remain ServiceNow’s CEO through the transition period and will retain his seat on the company’s Board of Directors for the remainder of his current term, ending in June 2020.
McDermott brings to ServiceNow extensive global leadership experience in enterprise software and a proven track record of driving transformative growth and strong shareholder value. He served as SAP CEO from 2014 until this month and was co-CEO from 2010 to 2014.
He recently announced his decision to not renew his contract and to step down as CEO, following a 17-year career with SAP to join ServiceNow.
During McDermott’s tenure as co-CEO and CEO, SAP tripled its market value to approximately $140 billion, growing into a global software company with more than 437,000 customers in over 180 countries.
McDermott led SAP’s successful transition to the cloud and generated substantial increases in total revenue, profit, employee engagement and environmental sustainability. Prior to SAP, McDermott held senior executive positions at Siebel Systems, Gartner and Xerox, where he started his career in sales and held a series of increasingly senior leadership roles throughout a 17-year career with that company.
“ServiceNow’s board is thrilled to have Bill McDermott join the company. His global experience and proven track record will provide for a smooth transition and continued strong leadership,” said Jeff Miller, Lead Independent Director – ServiceNow Board of Directors.
“Bill will further enhance ServiceNow’s momentum and reputation as a digital workflows leader committed to customer success, and as a preferred strategic partner enabling enterprise digital transformation,”added Miller.
“John Donahoe has been an exceptional leader for ServiceNow, championing a purpose-driven culture, strong customer focus and product innovation, and achieving outstanding shareholder value. The board extends its deep appreciation and thanks on behalf of our employees, partners and customers. We wish him much success as he embarks on his next role,” added Miller.
Since joining ServiceNow in April 2017, Donahoe has led strong customer expansion, and overseen consistent annual revenue growth of greater than 30 percent each quarter. During his tenure, the company’s market capitalization has more than tripled.
“ServiceNow is a special company and leading the team has been an honor. I’m very proud of what we have accomplished together and our deep commitment to delivering for our customers,” said Donahoe.
“I am very confident in ServiceNow’s future and am confident that the team will stay focused on strong execution. I can’t imagine a better and more capable leader than Bill McDermott to take the company forward,” added Donahoe.
“ServiceNow is one of the most exciting innovation and growth companies in the world. The company has a transformational platform, immensely talented colleagues and limitless potential. Fred Luddy has given us an enduring foundation on which to build the company’s bright future. I consider it a personal honor to succeed John and help carry ServiceNow’s proud legacy forward to the next chapter. I’m fired up and can’t wait to get started!,”said McDermott.