Steinhoff Africa Retail (Star) has identified 10 "strategic drivers", which it says are critical elements that help determine its success and plans for the future. "An experienced management team and loyal and committed employees" is the 10th of these drivers. Tekkie Town executives and employees may beg to differ. Of course the reality is that Tekkie Town does not feature large in Star’s life. It is part of a division that contributed just 4% to group revenue in 2017. This might make it difficult to understand the 3%-plus fall in the Star share price on the news of the walkout of key "not-so-loyal" Tekkie Town executives. The problem for Star executives and shareholders is that much as they might wish, it will take a lot more than a change of name to free it from association with Steinhoff. At the heart of the Tekkie Town dispute is an earn-out agreement its executives say was made at the time of the sale to Steinhoff. No doubt the sense of injury among the many executives who buil...
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