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WATCH: Dark days lie ahead for Steinhoff
Steinhoff, the international retailer, announced that its CEO, Marcus Jooste, had resigned. The news led to the company’s share price losing more than 60% on Wednesday. This comes amid investigations into accounting irregularities at the Steinhoff, which caused the company to postpone its full-year results. Steinhoff’s chairman, retail tycoon Christo Wiese, and former Pepkor CEO Pieter Erasmus will run Steinhoff until a new CEO is appointed. Jean Pierre Verster from Fairtree Capital and JSE director of issuer regulation John Burke to Business Day TV and provide some insight into the developments at Steinhoff. OR LISTEN TO THE AUDIO:
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