William R. McDermott (born August 18, 1961) is an American businessman and is currently CEO of
ServiceNow. Before ServiceNow, he was the CEO of the
technology company
SAP SE.
During his tenure as co-CEO and CEO, SAP's market value increased from $39 billion to $156 billion.
McDermott, along with Joanne Gordon, wrote a memoir, ''Winners Dream: A Journey from Corner Store to Corner Office'',
and was awarded a gold medal for business memoir of the year by the Axiom Business Book Awards. McDermott began his role as CEO of
ServiceNow in November, 2019.
Early years
Bill McDermott was born in
Amityville
Amityville () is a village near the Town of Babylon in Suffolk County, on the South Shore of Long Island, in New York. The population was 9,523 at the 2010 census.
History
Huntington settlers first visited the Amityville area in 1653 due ...
on
Long Island, where he also grew up.
He is one of four children to Kathleen and Bill McDermott and a grandson to
Naismith Memorial Basketball Hall of Fame player
Bobby McDermott
Robert Frederick McDermott (January 7, 1914 – October 3, 1963) was an American professional basketball player in the 1930s and 1940s. He was known as an outstanding shooter and has been called "the greatest long-distance shooter in the history ...
.
At age 16, he bought the Amityville Country Delicatessen in Long Island for $7,000.
Education
McDermott studied Business Management at
Dowling College. His deli business helped him pay for his undergraduate education.
After completing his undergraduate studies, McDermott attended
Northwestern University's Kellogg School of Management where he earned his MBA, and then completed the Executive Development Program at the
Wharton School of Business
The Wharton School of the University of Pennsylvania ( ; also known as Wharton Business School, the Wharton School, Penn Wharton, and Wharton) is the business school of the University of Pennsylvania, a private Ivy League research university in ...
.
Career
Xerox, Gartner and Siebel Systems
McDermott worked for 17 years at Xerox
and then became the President of Gartner in 2000.
From 2001 to 2002, he served as Executive Vice President of Worldwide Sales and Operations at
Siebel Systems
Siebel Systems, Inc. () was a software company principally engaged in the design, development, marketing, and support of customer relationship management (CRM) applications—notably Siebel CRM.
The company was founded by Thomas Siebel and Pat ...
.
SAP
In 2002, McDermott was appointed by SAP as the CEO of
SAP America. He was designated to the SAP Executive Board in 2008, and in February 2010, he became the co-CEO of SAP AG.
After four years, on May 21, 2014, McDermott became the first American to become the CEO of the company, now known as
SAP SE.
Since 2010, SAP's market cap has increased from $39 billion to $144.7 billion by February 2018.
In 2016 McDermott became the best-paid executive leading the companies that form the German stock index
DAX by earning a direct remuneration of €11.6 million. On October 10, 2019, McDermott decided to leave SAP SE.
SAP did many acquisitions under his tenure, starting with Sybase in 2010.
ServiceNow
At the end of October 2019 after McDermott stepped down from SAP,
ServiceNow announced his appointment as CEO. He succeeded
John Donahoe
John Joseph Donahoe II (born April 30, 1960) is an American businessman who is the CEO of Nike. Early in his career he worked for Bain & Company, becoming the firm's president and CEO in 1999. He is on the board of directors at Nike, The Bridges ...
at the end of 2019 as Donahoe finished his tenure at the company.
He cited "the company’s strength in cloud computing and enterprise software, and the challenge of building an already vibrant company further" as reasons for him to join
ServiceNow as CEO.
In 2021, McDermott was the 3rd highest paid
CEO
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
of all
S&P 500
The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of ...
CEOs, receiving over $162 million in
equity
Equity may refer to:
Finance, accounting and ownership
*Equity (finance), ownership of assets that have liabilities attached to them
** Stock, equity based on original contributions of cash or other value to a business
** Home equity, the diff ...
and $3.5 million in cash and other forms of compensation from
ServiceNow.
Awards and honors
In 2016, McDermott was named "Manager of the Year" by the German Business Daily ''
Handelsblatt''.
He has received numerous awards for his civic leadership, which includes:
# GENYOUth's Vanguard Award.
# City Year's Idealist of the Year.
# The We Are Family Foundation's Visionary Award,
# Children's Aid Society's Promise Award.
McDermott recently was recognized as a top CEO by
Glassdoor in
Canada, the
United States, the
United Kingdom, and
Germany.
Affiliations
McDermott is a member of the
Business Roundtable
The Business Roundtable (BRT) is a nonprofit lobbyist association based in Washington, D.C. whose members are chief executive officers of major United States companies. Unlike the U.S. Chamber of Commerce, whose members are entire businesses, B ...
.
Personal life
McDermott and his wife Julie have two sons. In July 2015, McDermott slipped and fell down the stairs while carrying a glass of water. The glass shattered into pieces, with one going through his left eye. He underwent "11 or 12 surgeries by the time it was all done", but ultimately the accident cost him his left eye. McDermott returned to SAP headquarters in October of that same year.
References
External links
McDermott profile gulfbusiness.com, October 2012; accessed March 31, 2015.
{{DEFAULTSORT:McDermott, Bill
Living people
SAP SE people
American technology chief executives
People from Amityville, New York
Businesspeople from New York (state)
Kellogg School of Management alumni
Dowling College alumni
Wharton School of the University of Pennsylvania alumni
1961 births