SAP says it is ready to lead customers into a cloud-based future, but it may need all its powers of persuasion to convince its 400 000-strong client base to launch a major overhaul of systems in a pandemic.
In Christian Klein’s first year as sole CEO at SAP, the company’s shares had their worst performance in 12 years. The pandemic damaged sales. And he lost his co-CEO in a high-profile ouster.
Hasso Plattner, chairman of SAP, bought shares worth nearly €250-million in the German software company on Monday after a once-in-a-generation price slide triggered when management dumped its profit targets.
SAP said on Monday it was going all in on its shift to cloud computing as it abandoned medium-term profitability targets and cautioned that its business would take longer than expected to recover from the coronavirus pandemic.
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South African investigators are seeking to recover more than R400-million from German software giant SAP for two government contracts they allege were entered into unlawfully, court documents show.
Hasso Plattner, the co-founder of German enterprise software giant SAP, has donated R100-million to South Africa’s Solidarity Fund.
On the night of 20 April, Christian Klein gained two major responsibilities. He became a father for the second time. And Klein was named sole CEO of SAP.