Steinhoff corruption
Steinhoff CFO Philip Dieperink to step down, Theodore de Klerk to take over
According to a media statement, Philip Dieperink would step down after the embattled retailer’s annual general meeting at the end of August.
Steinhoff was thrown a lifeline last July when its creditors agreed to delay debt claims for three years.
The 2017 and 2018 financial statements of the company’s wholly owned subsidiary, Steinhoff Investment Holdings Ltd, will be released shortly after the group’s results.
Saftu has joined calls for the prosecution of former Steinhoff CEO Markus Jooste after the Government Employees Pension Fund had to write off massive investments as a result of the collapse of Steinhoff’s share price last year.
Du Preez will replace acting CEO Danie van der Merwe who will step down at the end of December.
Talk Radio 702 host Eusebius McKaiser speaks to financial journalist Warren Thompson who explains the long history of dodgy business dealings at Steinhoff.
It will be the first time that Jooste publicly speaks out about what happened at Steinhoff since his abrupt resignation in December 2017.
Parliament’s spokesman Moloto Motapho confirmed earlier on Monday that lawyers acting for both Markus Jooste and La Grange had confirmed receipt of the subpoenas.
Parliament’s Standing Committee on Finance wants Jooste and La Grange to answer questions about gaps in the financial regulatory framework that might have caused the Steinhoff debacle.
The retail giant’s share price collapsed after the abrupt resignation of its CEO Markus Jooste in December 2017 as details of suspected fraud emerged.
The 'Business Day' is reporting that, ironically, the transactions listed in Christo Wiese's legal claim came under fire at the time because of a potential conflict of interests
The AGM, the first since the scandal broke just over four months ago, took place in Amsterdam in the Netherlands and was live-streamed to Cape Town.
Jannie Rossouw, head of the Wits School of Economic and Business Sciences, says even if Jooste was able to commit the crime he committed, the board members were clearly 'asleep at the wheel.'
Former Steinhoff chief financial officer Ben le Grange is to be given 10 days to confirm that he will also appear or he too will be summonsed.
The PSA’s Tahir Maepa says they requested the documents to assist them with the planning of the class action against the retail giant.
The Enterprise Chamber of the Amsterdam Court of Appeals ruled that Steinhoff must change its accounts to show it held a 50% controlling interest in POCO.
Steinhoff executives have been appearing before three committees at Parliament in a one-day meeting aimed at uncovering the origins of the crisis
Former CEO Markus Jooste was on Tuesday reported to the Hawks for investigation into alleged corrupt activities.
Christo Wiese says he became aware of problems at Steinhoff three working days before the company’s accounts had to be finalised for a board meeting last month.