- SAP ( NYSE: SAP ) is expected to miss a deadline to exit Russia by the end of the year as the company has been unable to find a buyer for the unit, according to a Reuters report.
- SAP announced in April that it would exit Russia and s hut down its cloud services in the country, w hile adding that it would not renew contracts with Russian companies after expiration.
- An SAP spokesperson told Reuters that the company is committed to winding down its Russian business as quickly as possible.
- "Recent legal developments in Russia have, however, limited our options with regard to the final steps of our exit, the SAP spokesperson told Reuters.
- SAP is expected to report its Q3 results on Tuesday.
- In August SAP appointed Airbus CFO as its next finance chief .
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SAP expected to miss deadline to exit Russia by year's end