Blackstone Hires Former SAP Co-CEO Jennifer Morgan to Lead Technology Transformation across its Portfolio Companies

NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE:BX) today announced that Jennifer Morgan, the former Co-Chief Executive Officer of SAP, the world’s largest provider of enterprise application software, has joined the firm as its first Global Head of Portfolio Transformation and Talent.

In this newly established leadership role, Ms. Morgan will be responsible for a team within Blackstone’s portfolio operations group helping the firm’s more than 200 portfolio companies drive growth through digital transformation – coupled with identifying best-in-class leadership and talent to execute on those initiatives. She will be a key operating partner to those businesses, with a particular focus on the technology companies in which Blackstone invests.

Jon Gray, Blackstone President and COO, said: “Blackstone has been focused on investing globally in high-quality businesses with significant growth potential. We are thrilled to have an executive of Jennifer’s caliber supporting our companies as they deploy transformative new technologies with world-class talent.”

Joe Baratta, Global Head of Blackstone Private Equity, said: “We are committed to building a premier portfolio operations group that can help our companies reach their full potential. Driving transformational growth and attracting the best talent from a variety of backgrounds to our companies are essential elements for success. Jennifer is an outstanding technology executive and leader who will help us deliver on our mission for our companies, their employees, and our investors.”

Jennifer Morgan added: “I’m excited to join Blackstone's incredibly talented team and lead its efforts to accelerate innovation and growth across its portfolio companies. Technology will continue to reshape and create new business models in every industry, representing an enormous opportunity for value creation for Blackstone companies and investors. I look forward to bringing my global technology experience and making a difference together with the Blackstone team."

Prior to joining Blackstone, Ms. Morgan served as Co-Chief Executive Officer at SAP – becoming the first female CEO of a DAX company. She also held various, additional leadership roles at SAP over 16 years – including serving on its executive board between 2017 and 2020 – and oversaw many of the company’s largest and most important strategic growth initiatives. Ms. Morgan holds a BA in Business Administration from James Madison University and currently is a board member of Bank of New York Mellon and of the National Academy Foundation and is on the Board of Advisors at James Madison University’s College of Business. She has been named one of the Most Powerful Women in Business by Fortune and Most Powerful Women in the World and Technology by Forbes.

About Blackstone

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $584 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.