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Fortune
Fortune
Ryan Hogg

CFO of Europe’s most valuable company hopes trade war is a ‘wake-up call’ for the continent

Dominik Asam, Chief Financial Officer at SAP, will be speaking on stage at the Digital Life Design (DLD) innovation conference at the House of Communication in Munich (Bavaria) on January 17, 2025. DLD is a conference on internet trends and developments in digitalization. (Credit: Matthias Balk—picture alliance/Getty Images)

In late March, German software giant SAP caught the world’s attention when it overtook Novo Nordisk and LVMH as the most valuable company in Europe. Ask SAP’s CFO about this novel numerical feat, though, and you’re unlikely to be greeted with much fanfare.

“We might be big in European terms, but frankly, against our most prominent competitors, it’s not the case,” Dominik Asam, CFO of SAP, told Fortune.

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