CEO of Germany's Software AG resigns

Erwin Königs, chief executive officer of Software AG, Germany's second-largest business software company after SAP, has resigned.

Erwin Königs, chief executive officer of Software AG, Germany's second-largest business software company after SAP, has resigned.

Königs will step down as Software AG's chief executive officer at its shareholder meeting next April, the company said.

Königs, former physicist who took Software AG to the stock market in 1999, has been at the helm of the company for more than six years. His departure follows the replacement of former chief financial officer Volker Dawedeit by Arnd Zinnhardt in March.

Like many other IT companies, Software AG has been hard hit by the slump in corporate spending. The company has lost nearly three-quarters of its market value this year after two profit warnings raised doubts about its prospects.

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