Jooste’s scramble for cash on eve of Steinhoff’s crash
PWC report finds late CEO cajoled colleagues to approve almost R30m in bonuses to himself that weren’t yet due
24 January 2025 - 05:00
Disgraced former Steinhoff CEO Markus Jooste sped up almost R30m in bonus payments to himself without requisite approvals just months before the company imploded, and came within a whisker of securing almost R1bn from one of the group’s affiliates in a deceitful deal.
A report by professional services firm PwC found that Jooste, who later committed suicide as the net was closing, also pushed through bonus payments of about R23m without the board’s knowledge...
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