The software company said former chairman of the board of management at BMW AG, Helmut Panke, will not seek a re-election to the board after his current term expires.

Charles Noski, former vice chairman of AT&T Inc and Bank of America Corp, is also leaving the board.

The company's annual shareholder meeting is due on Dec.4.

Shares of the company were up 1.84% in after-market trading after rising to a record high during the regular trading hours after it announced a $40 billion (31.90 billion pounds) share buyback plan.

(Reporting by Neha Malara in Bengaluru; Editing by Arun Koyyur)