Steinhoff’s Johan van Zyl resigns ahead of shareholder meeting in Amsterdam
Steinhoff International Holdings’ non-executive director Johan van Zyl resigned from the board of the troubled retailer just two days before what could be a tempestuous annual shareholder meeting in Amsterdam. Van Zyl was appointed the head of a sub-committee responsible for keeping a closer eye on corporate governance in December after the retailer reported a hole in its accounts and the share price crashed. He was among a trio of board members who Steinhoff had earmarked for annual bonus payments before lawmakers objected to the plan earlier this month. Van Zyl, the co-CEO of investment group African Rainbow Capital, is stepping down to allow the owner of Conforama in France and Mattress Firm in the US to "build for the future", he said in a statement on Wednesday. The sub-committee he was leading will be dissolved following the appointment of a new supervisory board at Friday’s meeting, he added. He joined the board in 2016, and is also the chair and former CEO of Sanlam. Steinho...
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