A year after Steinhoff’s meltdown and Marcus Jooste does not seem bothered
But that may change in the next few months, with a long-awaited forensic report into Steinhoff’s finances due to be completed by February
It’s exactly a year since Markus Jooste quit as CEO of Steinhoff International at the start of an unfolding accounting scandal and share-price collapse. Yet so far, he has been largely left in peace. While many of his former colleagues have battled investors, bankers and regulators around the clock to keep the global retailer afloat, Jooste has led the mostly quiet existence of a retired multimillionaire. He’s made only one public appearance in an official capacity — to face questions in parliament in September about his role in the crisis — before retreating again into a life of relative normality. That may change in the next few months, with a long-awaited forensic report into Steinhoff’s finances due to be completed by February. Auditors at PwC are expected to describe a series of third-party transactions and inflated asset valuations at the heart of the retailer’s collapse, and, as the CEO who presided over the alleged financial wrongdoing, Jooste’s name is likely to feature. Th...
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