South Africa: Parliament Must 'Hold the Line' On Steinhoff

press release

The appearance of Steinhoff executives before the Standing Committee on Finance (SCOF) on Wednesday, 28 March 2018, is an opportunity for Parliament to seek clarity on the proposed financial rewards for Steinhoff board members Heather Sonn, Johan van Zyl and Steve Booysen.

It is simply reckless that the same individuals who were running the company when financial reports were apparently manipulated are now being "rewarded" for fixing the mess they created. The Steinhoff board is under a moral obligation to minimise financial losses to investors, not least of which are the pensioners and members of the Government Employees Pension Fund (GEPF).

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