CORPORATE GOVERNANCE
SAP boss apologises for ‘missteps’ in Gupta-linked contracts
Mannheim — The CE of SAP has apologised for corporate governance missteps in SA. Speaking to investors at the software company’s annual general meeting in Germany on Thursday, Bill McDermott said SAP had made mistakes in failing to detect corrupt practices used to win South African government contracts. The company had responded quickly to prevent similar practices re-occurring, McDermott said. "Trust is earned in drops, but lost in buckets. When we make mistakes, we admit them so we can fix them." SAP removed executives in SA and made sweeping changes to its sales practices. It acknowledged that it had paid funds to firms with links to the politically influential Gupta family, who were at the heart of a scandal that toppled former president Jacob Zuma. McDermott said SAP’s latest quarterly results showed it was beginning to enjoy operating margin expansion for the first time since it began investing heavily in shifting its business from up-front licensing to subscriptions. "This is...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.