FRANKFURT (Dow Jones)–Hesitant customers and an insufficient number of deals mean that Software AG’s incoming orders in the area of digital business have recently fallen short of expectations. “We cannot be satisfied with the sales performance in the second quarter,” says CFO Matthias Heiden in an interview with the Börsen-Zeitung. In addition to a new composition on the board, the cooperation with the investor Silver Lake, who joined the Darmstadt-based company at the end of 2021 via a convertible bond, should also bring fresh impetus. The new major investor is asking “challenging questions, but they are the right questions,” says Heiden.
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Working together on answers is “sometimes exhausting, but in a very constructive way”. The name Silver Lake opens new doors for Software AG, especially in the attractive US market. A Silver Lake representative now chairs the supervisory board, so the tech investor is also involved in personnel decisions. Both Heiden’s board contract and that of CEO Sanjay Brahmawar currently run until 2023, the final year of the Helix transformation program. However, Heiden does not believe that his fate depends on Helix. “If that were the case, I wouldn’t worry either,” he says.
According to Heiden, it is already clear: There will be a follow-up program as part of a new medium-term plan. Heiden intends to continue on the path that has been taken in terms of key areas.
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(END) Dow Jones Newswires
September 10, 2022 09:32 ET (13:32 GMT)
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