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[ALERT] Former Steinhoff COO appointed acting CEO

Steinhoff is in the throes of an accounting scandal that has wiped off more than $10 billion of its value over the past two weeks.

 Steinhoff acting CEO Danie van der Merwe. Picture: steinhoffinternational.com

JOHANNESBURG - Steinhoff COO Danie van der Merwe has been appointed acting chief executive officer.

Steinhoff is in the throes of an accounting scandal that has wiped off more than $10 billion of its value over the past two weeks.

Van der Merwe has been with the company since 1998.

He replaces Christo Wiese, the company's biggest shareholder, who took over executive responsibilities after CEO Markus Jooste resigned in the wake of the scandal three weeks ago.

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