March 28, 2007 SAP AG (SAP - NYSE) announced the departure of Executive Board member Shai Agassi. Agassi, a true star and visionary at SAP, made his surprise decision after deciding he did not want to wait a long period of time to become CEO of SAP.
As an alternative, Agassi decided to follow his personal passion - environmental policy and alternative energy sources. Agassi's announcement was quickly followed by a large drop in SAP's share price. While SAP may be facing serious competitive challenges, Agassi's announcement certainly had a direct short-term impact. The stock price appears to have bounced back but there was a definite response to his decision to leave the firm.