Will New Broom Sweep Clean At South Africa's Troubled Steinhoff?

Steinhoff, a public company with a huge stake in the furniture retail sector in Africa and Europe, saw its share price tumble following the news of accounting and management irregularities.The company's CEO Marko Jooste resigned immediately once the news broke and was replaced by chairman Christo Wiese who subsequently stepped down due to conflict of interest. The company has now appointed Danie Van Der Merwe as Acting Chief Executive Officer.

Photo: Steinhoff

Daniel (Danie) Maree Van Der Merwe, Steinhoff Acting CEO

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