Johannesburg/London — Steinhoff International Holdings has replaced Dirk Schreiber on the boards of two key units as the embattled retailer seeks to bolster independent oversight. The owner of Conforama in France and Mattress Firm in the US last week won support from a majority of creditors to restructure its €9.4bn of debt, a vital step towards its recovery from an accounting scandal. While Steinhoff is only midway through a year-long investigation into its finances, it has been moving to strengthen its boards following the departure of CEO Markus Jooste in December. Schreiber, who was previously the chief financial officer of Steinhoff Europe, stepped down as a director of the unit, which houses brands such as Pepco and Poundland. He also stepped down as a director of the convertible-bond unit Steinhoff Finance Holding in June, a company spokeswoman said in an e-mailed response to questions. ‘Independent directors’ "New boards have been constituted inclusive of independent directo...

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