Software AG to Appoint Matthias Heiden as New Chief Financial Officer
Software AG (Frankfurt MDAX: SOW) today announced the appointment of Dr. Matthias Heiden as its new Chief Financial Officer (CFO). Dr. Heiden will be taking over from Arnd Zinnhardt, who will step down after 18 years in the role. Dr. Heiden will join Software AG and assume the role of CFO and Member of the Executive Board officially after a transition period is completed.
Dr. Heiden is a highly accomplished finance leader with an extensive background in the software industry and international experience within large global DAX-listed companies. He will join Software AG from SAF-HOLLAND S.A., where he is currently CFO with overall responsibility for a wide range of key functions, including: Finance, Controlling, HR, Investor Relations, Legal & Compliance, and Corporate Communications. Headquartered in Luxembourg and listed on the Frankfurt Stock Exchange, SAF-HOLLAND is Europe’s largest independent commercial vehicle supplier.
Before joining SAF-HOLLAND, Dr. Heiden spent 12 years with SAP SE in a range of senior leadership roles, including CFO SAP Deutschland and SAP Head of Global Treasury. His final role with SAP was that of Regional CFO for Middle and Eastern Europe, where he was a member of both SAP’s Global and European Leadership teams overseeing significant revenue streams across all lines of business. While at SAP, he was a key player in its transformation to a subscription and cloud-based business model and was co-sponsor of SAP’s own finance transformation program, “Finance Run Better Together.”
Software AG’s Chairman of the Supervisory Board Dr. Andreas Bereczky said: “I would like to take this opportunity to welcome Dr. Heiden to Software AG. His track record gives him an excellent understanding of how software businesses run; combined with new CFO DNA, I am certain he will make an outstanding contribution to Software AG.” He added: “On behalf of the Supervisory Board, management team, and all of our employees, I would like to express my sincere gratitude to Arnd for his significant contribution to the company over the past 18 years, including the key role he played in the development and implementation of our new strategy, Helix.”
Sanjay Brahmawar, Chief Executive Officer of Software AG, commented: “I am excited that Matthias Heiden is joining the Software AG team. With his extensive international and software experience, we have found a strong finance leader to support our transformation journey going forward. In addition, I would like to extend my gratitude to Arnd for everything he has done for the success of Software AG and our people.”
Arnd Zinnhardt added: “I have very much enjoyed my time at Software AG and would like to thank my colleagues for their support over the years. We successfully developed Software AG and shaped the company to what it is today. Now that the new Helix strategy is starting to come to fruition, I am pleased to be able to pass the torch to Dr. Heiden.”
Dr. Matthias Heiden said: “Joining Software AG at this stage in its transformation journey is very exciting. Its financial strength and innovation agenda are compelling. I look forward to taking the company and its finance function to the next level in executing the Helix transformation agenda in the coming years.”
Dr. Heiden holds a PhD in Business Administration from Saarland University in Germany. He lives with his wife and daughter in Speyer, Germany.
Software AG’s Q4 and annual financial results will be announced as planned on January 29, 2020.
About Software AG
Software AG offers Freedom as a Service. We reimagine integration, spark business transformation and enable fast innovation on the Internet of Things so you can pioneer differentiating business models. We give you the freedom to connect and integrate any technology—from app to edge. We help you free data from silos so it’s shareable, usable and powerful—enabling you to make the best decisions and unlock entirely new possibilities for growth.
Learn more about Software AG at www.softwareag.com.
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As a result the target price of €42.00 shows a slightly positive potential of 10.121% compared to the current price of €38.14 for Software AG.