German-based business software maker SAP’s chief executive Leo Apotheker resigned yesterday as the company announced that it would return to a dual-CEO structure.

Mr. Apotheker left the company in less then a year after he took over in May last year as the sole CEO of the company.

SAP said in a statement, "Leo Apotheker has laid down his post as member of the management board with immediate effect.”

SAP also said that company’s board members Bill McDermott and Jim Hagemann Snabe would take over as co-CEOs.

Mr. McDermott is the head of field organization, while Mr. Hagemann Snabe is the chief of product development at the company.

Company’s fourth-quarter net income slipped 12 per cent to €727 million.

However, Mr. Apotheker had expressed great optimism for the company, saying company’s underlying revenue would jump by 4-8 per cent during 2010 from previous year's €8.2 billion.

The German company has been facing cut-throat competition from Oracle Corp., which earlier in December said it was gaining customers at the expense of SAP.