Bill McDermott

Last updated
Bill McDermott
SAP ExecutiveBoard McDermott 002.jpg
McDermott in 2008
Born
William R. McDermott

(1961-08-18) August 18, 1961 (age 63)
New York City, U.S.
Education Kellogg School of Management
Wharton School of Business
Dowling College
OccupationBusinessman
Known for ServiceNow, SAP SE
SpouseJulie McDermott
Children2

William R. McDermott (born August 18, 1961) [1] is an American businessman and CEO of ServiceNow. Before ServiceNow, he was the CEO of the technology company SAP SE. [2] [3] [4] [5] During his tenure as co-CEO and CEO, SAP's market value increased from $39 billion to $156 billion. [2] [6] McDermott, along with Joanne Gordon, wrote a memoir, Winners Dream: A Journey from Corner Store to Corner Office, [7] and was awarded a gold medal for business memoir of the year by the Axiom Business Book Awards. [8] McDermott began his role as CEO of ServiceNow in November 2019. [9]

Contents

Bill McDermott, co-CEO of SAP AG and Maria Bartiromo, CNBC anchor (8415175866).jpg
Bill McDermott and Maria Bartiromo (FOX Business)

Early years

Bill McDermott was born in Amityville on Long Island, where he also grew up. [7] He is one of four children to Kathleen and Bill McDermott [10] and a grandson to Naismith Memorial Basketball Hall of Fame player Bobby McDermott. [11] At age 16, he bought the Amityville Country Delicatessen in Long Island for $7,000. [11]

Education

McDermott studied Business Management at Dowling College. His deli business helped him pay for his undergraduate education. [11] After completing his undergraduate studies, McDermott attended Northwestern University's Kellogg School of Management where he earned his MBA, [12] [13] and then completed the Executive Development Program at the Wharton School of Business.

Career

Xerox, Gartner and Siebel Systems

McDermott worked for 17 years at Xerox [4] and then became the president of Gartner in 2000. [3] [4] From 2001 to 2002, he was executive vice president of worldwide sales and operations at Siebel Systems. [3] [14]

SAP

In 2002, McDermott was appointed by SAP as the CEO of SAP America. He was designated to the SAP Executive Board in 2008, and in February 2010, he became the co-CEO of SAP AG. [3] [4] After four years, on May 21, 2014, McDermott became the first American to become the CEO of the company, now known as SAP SE. SAP's market capitalization increased from $39 billion to $144 billion between 2010 and 2018. [2] [15] In 2016 McDermott became the best-paid executive leading the companies that form the German stock index DAX by earning a direct remuneration of €11.6 million. [16] On October 10, 2019, McDermott decided to leave SAP SE. [17] SAP did many acquisitions under his tenure, starting with Sybase in 2010. [18]

ServiceNow

At the end of October 2019 after McDermott stepped down from SAP, ServiceNow announced his appointment as CEO. He succeeded John Donahoe at the end of 2019 as Donahoe finished his tenure at the company. [19] He cited "the company’s strength in cloud computing and enterprise software, and the challenge of building an already vibrant company further" as reasons for him to join ServiceNow as CEO. [20]

In 2021, McDermott was the 3rd highest paid CEO of all S&P 500 CEOs, receiving over $162 million in equity and $3.5 million in cash and other forms of compensation from ServiceNow. [21]

Awards and honors

In 2016, McDermott was named "Manager of the Year" by the German Business Daily Handelsblatt . [22] He has received numerous awards for his civic leadership, which includes:

  1. GENYOUth's Vanguard Award. [23]
  2. City Year's Idealist of the Year. [24]
  3. The We Are Family Foundation's Visionary Award, [25]
  4. Children's Aid Society's Promise Award. [26]

McDermott recently was recognized as a top CEO by Glassdoor in Canada, the United States, the United Kingdom, and Germany. [27]

Affiliations

McDermott is a member of the Business Roundtable. [28]

Personal life

McDermott and his wife Julie have two sons. [29] In July 2015, McDermott slipped and fell down the stairs while carrying a glass of water. The glass shattered into pieces, with one going through his left eye. He underwent "11 or 12 surgeries by the time it was all done", but ultimately the accident cost him his left eye. [30] McDermott returned to SAP headquarters in October of that same year. [31]

Related Research Articles

Oracle Corporation is an American multinational computer technology company headquartered in Austin, Texas. In 2020, Oracle was the third-largest software company in the world by revenue and market capitalization. In 2023, the company’s seat in Forbes Global 2000 was 80. The company sells database software and cloud computing. Oracle's core application software is a suite of enterprise software products, such as enterprise resource planning (ERP) software, human capital management (HCM) software, customer relationship management (CRM) software, enterprise performance management (EPM) software, Customer Experience Commerce and supply chain management (SCM) software.

<span class="mw-page-title-main">SAP</span> German multinational enterprise-software company

SAP SE is a German multinational software company based in Walldorf, Baden-Württemberg, Germany. It develops enterprise software to manage business operation and customer relations. The company is the world's largest enterprise resource planning (ERP) software vendor.

<span class="mw-page-title-main">John Donahoe</span> American businessman (born 1960)

John Joseph Donahoe II is an American businessman who is the CEO of Nike from January 2020, until his upcoming exit in October 2024. Early in his career, he worked for Bain & Company, becoming the firm's president and CEO in 1999. He is on the board of directors at Nike, The Bridgespan Group and is chairman of PayPal. Donahoe was named president and CEO of ServiceNow, a cloud company, in February 2017. He was on the Board of Trustees of Dartmouth College from 2003 to 2012.

<span class="mw-page-title-main">Splunk</span> American technology company

Splunk Inc. is an American software company based in San Francisco, California, that produces software for searching, monitoring, and analyzing machine-generated data via a web-style interface. Its software helps capture, index and correlate real-time data in a searchable repository, from which it can generate graphs, reports, alerts, dashboards and visualizations.

<span class="mw-page-title-main">Procter & Gamble</span> American multinational consumer goods corporation

The Procter & Gamble Company (P&G) is an American multinational consumer goods corporation headquartered in Cincinnati, Ohio, founded in 1837 by William Procter and James Gamble. It specializes in a wide range of personal health/consumer health, personal care and hygiene products; these products are organized into several segments including beauty; grooming; health care; fabric and home care; and baby, feminine, and family care. Before the sale of Pringles and Duracell to Kellogg's and Berkshire Hathaway, respectively, its product portfolio also included food, snacks, beverages, and batteries. P&G is incorporated in Ohio.

<span class="mw-page-title-main">Dan Schulman</span> American business executive (born 1958)

Daniel H. Schulman is an American former business executive. He is the former president and CEO of PayPal, and before that group president of enterprise growth at American Express. Schulman was responsible for American Express' global strategy to expand alternative mobile and online payment services, form new partnerships, and build revenue streams beyond the traditional card and travel businesses. Earlier, he was president of Sprint's prepaid group and the founding CEO of Virgin Mobile.

<span class="mw-page-title-main">Hubert Joly</span>

Hubert Joly is a businessman and Harvard Business School faculty member who formerly served as chairman and CEO of Best Buy. He is also the former president, CEO and director of Carlson, a global hospitality and travel conglomerate based in Minneapolis, Minnesota, US.

<span class="mw-page-title-main">ServiceNow</span> American technology company

ServiceNow, Inc. is an American software company based in Santa Clara, California, that develops a cloud computing platform to help companies manage digital workflows for enterprise operations. Founded in 2003 by Fred Luddy, ServiceNow is listed on the New York Stock Exchange and is a constituent of the Russell 1000 Index and S&P 500 Index. In 2018, Forbes magazine named it number one on its list of the world's most innovative companies.

<span class="mw-page-title-main">Zuora</span> American enterprise software company

Zuora, Inc. is an American enterprise software company headquartered in Redwood City, California that creates and provides software for businesses to launch and manage their subscription-based services. Zuora's applications are designed to automate recurring billing, collections, quoting, revenue recognition, and subscription metrics. Tien Tzuo, a co-founder of the company, has served as its CEO since 2007.

<span class="mw-page-title-main">Francis deSouza</span> American businessman

Francis Aurelio deSouza is an American entrepreneur and business executive. He is co-founder of SynthLabs, and a member of the Board of Directors of Deel Inc.

Glassdoor is an American website where current and former employees anonymously review companies, operated by the company of the same name.

<span class="mw-page-title-main">Mark Weinberger</span> American businessman

Mark A. Weinberger is an American businessman. He is the former global chairman and CEO of EY. Weinberger currently sits on several boards of directors, including those of Metlife, Johnson & Johnson Saudi Aramco. and JPMorgan Chase. Earlier in his career he has also held several posts in the public sector in Washington, D.C., including time as Assistant Secretary of the Treasury for Tax Policy.

Paycom Software, Inc., known simply as Paycom, is an American online payroll and human resource software provider based in Oklahoma City, Oklahoma with offices throughout the United States. It is attributed with being one of the first fully online payroll providers. It has been recognized by Fortune and Forbes as one of the fastest-growing publicly traded companies in the world, and as one of the World's Most Innovative Enterprise Companies by Fast Company in 2022. Founded in 1998, it reported annual revenue of $1.375 billion for 2022, up from $1.06 billion for 2021.

Chad Richison is an American entrepreneur who has served as President and Chief Executive Officer of Paycom since its founding.

Kraken is a United States–based cryptocurrency exchange, founded in 2011. It was one of the first bitcoin exchanges to be listed on Bloomberg Terminal and was valued at US$3 billion in January 2024. The company has been the subject of several regulatory investigations since 2018, and has agreed to cumulative fines of over $30 million.

Benno O. Dorer is a German businessperson. With the entirety of his career in the consumer goods industry, he has been the CEO and Chair of Clorox since November 2014 and August 2016, respectively. He began his career with Procter & Gamble, in 1990, then held a series of senior positions at Clorox, starting in 2005, then becoming CEO in 2014. An original signatory to the CEO Action for Diversity and inclusion pledge; Dorer was the highest-rated CEO in the United States in the Glassdoor 2017 Employees' Choice Awards. He serves on the board of directors of the VF Corporation, and is vice-chair of the Grocery Manufacturers Association.

<span class="mw-page-title-main">Don Slager</span>

Donald W. “Don” Slager is the former Chief Executive Officer of Republic Services, Inc., in the recycling and waste services business. The Company generates $10 billion of annual revenue, has a market cap exceeding $23+ billion and operates the 7th largest vocational fleet in the nation. Don has more than 35 years of experience in the industry, starting his career as a teenager and subsequently working at all levels within the organization. He had served Republic for over 30 years. Slager retired and Jon Vander Ark was appointed the position of CEO on June 26, 2021 following a well executed succession plan.

Aron Ain is an American software technology executive and author. He became the CEO of UKG in 2020, a role he held until being named UKG Executive Chair, effective July 1, 2022. UKG was created from the merger of Ultimate Software and Kronos Incorporated, and provides global HCM and workforce management solutions. Previously, Ain had been the chief executive officer of Kronos Incorporated since 2005.

<span class="mw-page-title-main">Paul J. Brown</span> American businessman

Paul J. Brown is an American businessman and the co-founder and chief executive officer of Inspire Brands. He is the former chief executive officer of Arby’s.

<span class="mw-page-title-main">Jennifer Morgan</span> American technology executive (born 1971)

Jennifer Morgan is an American technology executive. She is currently CEO at UKG. Prior to her appointment in July 2024, Morgan was the first American woman ever appointed to the SAP Executive Board in 2017. Morgan was the first female Chief Executive of SAP, and she was the first female CEO of a company on the DAX index.

References

  1. ↑ Koenen, Jens; Schürmann, Hans (2010-02-08). "Mit dem Zweiten läuft es besser". Handelsblatt . Retrieved 11 October 2019.
  2. 1 2 3 Swartz, Jon (2018-06-08). "SAP CEO McDermott's Intent on Beating Salesforce in CRM". Barrons.com. Retrieved 2018-06-08.
  3. 1 2 3 4 "SAP CEO McDermott on Being the American Head of a German Multinational". HBR.org. 2016-11-08. Retrieved 2016-11-08.
  4. 1 2 3 4 "SAP CEO Bill McDermott: The Underdog with a Vision". CNBC.com. 2017-07-18. Retrieved 2017-07-18.
  5. ↑ 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.
  6. ↑ Comeau, Zachary (18 October 2019). "SAP CEO Bill McDermott To Step Down". TD. Retrieved 23 October 2019.
  7. 1 2 Jane M. Von Bergen (December 15, 2014). "SAP CEO is telling a winner's story". The Philadelphia Inquirer . Retrieved January 26, 2018.
  8. ↑ Winners Dream profile, IndependentPublisher.com; accessed July 2, 2015.
  9. ↑ "Bill McDermott takes reins as ServiceNow CEO sooner than expected with new CFO". TechCrunch. 18 November 2019. Retrieved 2019-11-22.
  10. ↑ Published in Fort Wayne Newspapers (October 10, 2010). "Kathleen A. McDermott Obituary". Legacy.com . Retrieved January 26, 2018.
  11. 1 2 3 Julie Bort (November 10, 2014). "This Man Beat Poverty, Cancer, And Fleas To Lead A $21 Billion Company". Business Insider . Retrieved January 26, 2018.
  12. ↑ McDermott profile, alumni.kellogg.northwestern.edu; accessed March 31, 2015.
  13. ↑ Kellogg School of Management alumni profile Archived 2010-02-23 at the Wayback Machine , kellogg.northwestern.edu; accessed March 31, 2015.
  14. ↑ Callaghan, Dennis (30 September 2002). "Former Siebel Exec Resurfaces at SAP". eweek.com. QuinStreet. Retrieved 11 October 2019.
  15. ↑ Kharpal, Arjun (2018-02-12). "SAP Will Consider Small Acquisitions, Not Mega-Deals". CNBC.com. Retrieved 2018-02-12.
  16. ↑ "So viel verdienen die Dax-Chefs" [This is how much the Dax bosses earn]. Der Spiegel (in German). 17 March 2017.
  17. ↑ "SAP Sets Course for the Future With Next Generation Leadership Team". PR Newswire. 10 October 2019.
  18. ↑ "SAP is Said to Explore Sale of Mobile Network Software Unit". Bloomberg.com. 14 April 2020.
  19. ↑ "ServiceNow Announces Bill McDermott to Become CEO, Succeeding John Donahoe, Who Is Stepping Down to Become CEO of Nike". www.businesswire.com. 2019-10-22. Retrieved 2019-10-22.
  20. ↑ "ServiceNow Shakeup: No One Saw This Coming". Channelnomics. 23 October 2019. Retrieved 23 October 2019.
  21. ↑ Francis, Theo (2022-05-15). "Pay Packages for CEOs Rise to Record Level". Wall Street Journal. ISSN   0099-9660 . Retrieved 2022-07-26.
  22. ↑ Afhüppe, Sven (2016-12-17). "SAP CEO McDermott is National Manager of the Year: A Fighter with Heart". Handlesblatt.com. Retrieved 2016-12-17.
  23. ↑ "GENYOUth Gala Recap". GENYOUthnow.org.
  24. ↑ "City Year Names Idealist of the Year". BusinesWire.com. 2012-05-10. Retrieved 2012-05-10.
  25. ↑ "We Are Family Foundation 2015 Celebration Gala Honors McDermott". LawlorMedia.com. 2015-04-28. Retrieved 2015-04-28.
  26. ↑ "McDermott Receives Children's Aid Society Promise Award". IrishAmerica.com.
  27. ↑ "Glassdoor Names Top 100 CEOs in U.S., UK, Germany, more". Glassdoor.com.
  28. ↑ Business Roundtable website; accessed July 2, 2015.
  29. ↑ McDermott profile, articles.philly.com, December 16, 2014; accessed March 31, 2015.
  30. ↑ Handley, Lucy (2017-06-08). "SAP CEO Bill McDermott on losing an eye: 'My accident changed my life for the better'". CNBC. Retrieved 2022-06-25.
  31. ↑ Mike Wheatley (September 18, 2015). "SAP boss Bill McDermott lost an eye, almost died in freak accident". SiliconANGLE. Retrieved January 26, 2018.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.