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.