Tongaat considers civil action against Peter Staude and other former executives
The sugar company has named 10 executives implicated in the PwC investigation
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. ..