Operating profit was down 12%, based on international financial reporting standards, but after adjustments and at constant currency it rose by 4%. The change of course follows a year of turmoil unleashed by the exit of long-time CEO Bill McDermott, while the leadership duo of Christian Klein and Jennifer Morgan that replaced him unravelled in April to leave Klein in sole charge as governments were locking down their economies. At that time, the coronavirus pandemic was already having an impact on operations, but SAP stood by the medium-term 'ambition' set on McDermott's watch that foresaw profit margins growing by a percentage point a year in the five years to 2023. In its Sunday-evening release, SAP dumped its targets for 2023 and instead replaced them with new targets for 2025. It said the COVID-19 pandemic would have an impact on demand "through at least the first half of 2021 pushing out the achievement of key metrics such as (adjusted) cloud revenue, total revenue, and operating profit, by 1 to 2 years".