16 July 2024, 06:50
By Furniture News Dec 15, 2017

Chair resigns to "reinforce independent governance" at Steinhoff

Steinhoff chairman Dr Christo Wiese has resigned, as the South African conglomerate continues to deal with the fall-out of an accounting scandal that has seen its share price crash around 80%, and its full-year results postponed.

Wiese had stepped into the role on an interim basis to replace Markus Jooste, who resigned as soon as Steinhoff’s accounting irregularities came to light earlier this month.

In a statement, Steinhoff stated that Wiese, a major shareholder, offered his resignation in order to “reinforce the independent governance of the company”. His son Jacob has also offered his resignation.

Board member Heather Sonn has assumed the position of acting chairperson.

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