Steinhoff shifts management, appoints acting CEO

Scandal-hit retail group Steinhoff has made changes to its management.

Former CEO Markus Jooste resigned from the company after an investigation into apparent accounting fraud blew out in local and international media.

Former chairman, Christo Wiese, was to take over control of the company while investigation were underway, however he and his family also stepped down from leadership positions at the company a week later.

In a SENS announcement on Tuesday, the group’s supervisory board designated Danie van der Merwe, who has been COO of Steinhoff, as acting CEO.

The board has also appointed two additional members – Alexandre Nodale as deputy CEO and Louis Du Preez as commercial director.

“Alexandre will bring additional financial oversight and European retail experience to the Management Board. He will remain CEO of Conforama, a major subsidiary of Steinhoff,” the group said.

“Du Preez is an experienced qualified attorney, specialising in corporate and commercial matters.”

Read: How Steinhoff’s 50 year legacy was reduced to tatters in just two days


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Steinhoff shifts management, appoints acting CEO