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Companies in the timber industry / Daily News / Furniture / Wood Products / Africa / Europe / Global
December 7, 2017

Steinhoff starts private investigation on accounting irregularities; CEO resigns

Steinhoff starts private investigation on accounting irregularities; CEO resigns
Markus Jooste, CEO of Steinhoff International, Europe’s second-largest furniture retailer by sales, has resigned on the 6th of December, with immediate effect, after the company had launched an investigation into accounting irregularities.  Further on, The Supervisory Board of the German company, in consultation with the statutory auditors of Steinhoff, has approached PWC to perform an independent investigation.  The Supervisory Board has immediately appointed its Chairman, Dr. Christo Wiese, as Executive Chairman (Delegated Supervisory Chairman) on an interim basis. In addition, Pieter Erasmus, the previous CEO of Pepkor Group, has agreed to join Dr. Wiese ...

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