Steinhoff’s CEO resigns following investigation into accounting irregularities

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 ...