The club official had suggested the Ghanaian left AC Milan due to ill-treatment from supporters but has acknowledged his comments were incorrect
Boateng sealed a €10 million deadline-day move from AC Milan to Schalke - signing a four-year-contract - four years after last appearing in the German top flight.
The midfielder walked off the pitch during a mid-season friendly with Milan against Pro Patria last season after being subjected to racist chanting, and Peters - Schalke's chief financial officer - had suggested on Monday this kind of treatment was behind the Ghana international's return to the Bundesliga.
However, he has apologised for that statement and admitted he had interpreted the situation incorrectly.
"After consultation with our general manager Horst Heldt, my assumption has proven to be completely wrong," he told the club's official website.
"He confirmed that racist incidents definitely were not the reason for Kevin's move to Schalke 04.
"As soon as I'm back at Schalke, I'll apologise immediately in a personal conversation with Kevin for this statement."
The 26-year-old midfielder made his debut in Schalke's 2-0 victory over Bayer Leverkusen, and was an unused substitute in Ghana's 3-1 victory over Zambia in FIFA World Cup Qualifying on Friday.