After the former expires: SAP shares fall: Second SAP Executive Council resigns from office

An executive council member, who was also a member of the supervisory board until the end, has resigned from his office with immediate effect, the Waldorf-based software company announced on Thursday. At the same time, SAP and the person mutually agreed to terminate the employment relationship. “Both parties have agreed not to disclose any further details,” the software company said. “Rhine-Neckar-Zeitung” and “Business Insider” had previously reported the resignations.

Some time ago the former Executive Council chief of the company was the first to vacate his position. He has since been fired from the company. The software company had already launched an internal investigation against the two former employee representatives. During the investigation of his actions and those of the supervisory board’s colleagues, the former Executive Council chief is said to have “made the case difficult to explain, suppressed circumstantial facts” and tried to “prevent the detection of the truth”. Documents from the German Press Agency exist.

SAP investigated the coworker who had now left the company internally after being notified by a whistleblower. The Heidelberg Public Prosecutor is also investigating an allegation of attempted fraudulent proceedings in connection with the election of an allegedly manipulated supervisory board.

On Thursday, SAP shares fell 2.43 per cent to 121.48 euros in XETRA trading.

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Waldorf (DPA-AFX)