Tongaat Hulett has put executives including its long-serving former CEO Peter Staude, who was paid R176m in the decade to 2018, in the firing line over an accounting scandal that threatened the collapse of a once iconic SA company. 

In one of SA's biggest scandals since Steinhoff disclosed accounting fraud in December 2017, the sugar producer, which traces its roots to the 1850s, asked the JSE to suspend trade in its shares in June after an investigation flagged accounting practices that meant its financial statements could not be relied upon. ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now