SAP Discloses Investment by Chairman's Charity in Joint Venture

SAP Discloses Investment by Chairman's Charity in Joint Venture
05/12/2021 | 09:50am EDT
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By William Boston
BERLIN -- SAP SE, the German software company, said Wednesday that a charity set up by Hasso Plattner, SAP's chairman and co-founder, had invested in a financial-services joint venture SAP had created, but it denied any wrongdoing in not disclosing the investment earlier.
After German media reported the existence of the Hasso Plattner Foundation's investment this week, a spokesman for SAP said an extensive compliance review before the transaction turned up no conflict of interest and that neither Mr. Plattner nor Rouven Westphal, the foundation's executive director, had any operational influence over the joint venture.

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