Punit Renjen, the former CEO of Deloitte, was named as the designated Chairman by the software company SAP. Renjen will succeed Co-founder Hasso Plattner, whose term expires in May 2024. Plattner, who owns a 6.16% stake in the firm worth about $8.73 billion, said, "As an investor with an unchanged stake, I will remain committed to SAP."