-
South Africa: Steinhoff Accounting Scandal Dates Further Back
News24Wire, 2 January 2018
The accounting scandal rocking embattled Stellenbosch-based furniture and household goods retailer Steinhoff is still growing. Read more »
-
South Africa: Christo Wiese Resigns from Steinhoff Supervisory Board
Steinhoff International, 15 December 2017
Steinhoff International Holdings N.V. (the "Company") - The Company is providing the following update further to its announcement dated 8 December 2018. Read more »
-
South Africa: Steinhoff Saga Shows That Corporate SA Speaks With a Forked Tongue
Daily Maverick, 12 December 2017
Irregular accounting. Now there's an interesting turn of phrase for what is arguably the biggest financial scandal to which many hard-working people have fallen unwitting victim in… Read more »
#Steinhoff, A STAR South African Company Hits Troubled Times
Steinhoff Africa Retail (STAR), a retailer servicing sub-Saharan Africa operating across several sectors, and listed on the Johannesburg Securities Exchange, is this week facing allegations of accounting irregularities which prompted its Chief Executive Officer Markus Jooste to resign. Steinhoff's leadership is now being led by the third wealthiest South African, billionaire Christo Wiese, even as he reportedly lost half of his personal wealth in a day in the Steinhoff share nosedive. The company acquired the services of Price Waterhouse Coopers to investigate the allegations. Wiese has since resigned from the company's supervisory board.
Steinhoff International CEO Markus Jooste resigned with immediate effect after the retail giant's admission of financial irregularities that led to an investigation, and a drop of more than 60% in its shares.
