Final Steinhoff payments to Wiese down to a trickle, relatively
Steinhoff's latest results reveal a loss of €1.2bn that prompted the resignation of long-time CEO Markus Jooste and sent the company's share price tumbling
Hidden between the massive losses published by Steinhoff International in its delayed annual results this week are the last millions and the favourable loan terms billionaire Christo Wiese received from the embattled company.
Wiese, the largest shareholder in Steinhoff from 2015 until December 2017, earned €256,849 (about R4m) during the year to end-September 2018, the company's annual report shows. This includes money paid to him and entities under his control for management services rendered, director's fees, office support services and supplying a jet for Steinhoff executives.