German software giant SAP has appointed a new chief financial officer, Werner Brandt, who leaves a similar job at a German pharmaceutical company to take up the post on 1 February 2001.
SAP said Brandt will replace Dieter Matheis, who retires at the end of the year, and that he will also take some of co-chief executive Henning Kagermann's financial responsibilities.
The company recently published improved third quarter results, including profit of 88m euros achieved on the back of its latest business software, advertised in the UK through the 'New, New Economy' TV commercials.
In October, SAP announced plans to expand its US office, with the creation of up to 600 jobs. The company has seen its US president, chief executive and chief financial officer leave during the course of the year.
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