Former Steinhoff CEO Markus Jooste will be in parliament next Wednesday to publicly answer questions for the first time related to the collapse of the global furniture retailing group. Jooste, who resigned in December 2017, has kept a very low profile and not said anything publicly about the collapse of the group since he left. His abrupt departure was prompted by the disclosure of accounting irregularities in the group, which precipitated a dramatic slide in the Steinhoff share price, wiping off R190bn, or 95%, of its market value. The questions he will face from members have been strictly circumscribed, however, in terms of an agreement reached between Jooste, acting secretary to parliament Penelope Tyawa and finance committee chairman Yunus Carrim in the high court in Cape Town on Tuesday. In terms of the deal, Tyawa agreed to withdraw the summons issued on Jooste to appear at the meeting on Wednesday. Jooste instead agreed to appear before the committees on September 5. The four...

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