One industry observer characterized Wookey's hiring as a win for both parties.

"This is a great match," said Bruce Richardson, an analyst with AMR Research. "I think he wanted one last chance to do something big on a grand scale in a big company with lots of resources."

Richardson said he has known Wookey for some time, but isn't sure why he left Oracle: "I'm guessing in an organization like that, the higher up you go, the greater the politics," he said.

Meanwhile, Wookey brings a strong combination of technical and managerial know-how to SAP and its new SaaS (software as a service) strategy, Richardson said.

On-demand software allows for easier deployments than on-premises products, Richardson said. SAP can sell its customers more products if it can free up dollars now being spent on systems integrators, he said.