WALLDORF — SAP SE (NYSE: SAP) today announced that it will provide an update on the investigation into allegations of wrongdoing in its South African business during the last week of October 2017.
The company initiated an investigation spearheaded by international law firm Baker McKenzie on July 12, 2017. At the same time, SAP placed four senior executives on administrative leave, pending the finalization of this investigation. The team from Baker McKenzie has been reviewing and scrutinizing large volumes of data, talking to a variety of stakeholders and conducting interviews with all relevant persons.
“We are acutely aware that we owe South Africa answers. While we understand the public’s legitimate frustration at the length of the investigation, it is imperative that we get this process right,” said Adaire Fox Martin, member of the Executive Board of SAP SE, who leads SAP’s business in MEE, EMEA and Greater China. “We remain committed to delivering on our initial promise to manage this process in a transparent way and to give a full account to our employees, customers, partners and the South African public.”
SAP is committed to the highest standards of business ethics. Its policy is, and always has been, to carry out all company activities in accordance with the letter and spirit of applicable laws in the more than 180 countries in which the company operates. SAP will not tolerate any misconduct. Any evidence of wrongdoing will be dealt with vigorously and comprehensively.
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