A bad week for Santam CEO Lizé Lambrechts
Call us cynics, but Santam’s act of belated largesse has only followed weeks of pleading from desperate clients who’ve had to resort to the courts to get paid, and harsh words from the regulator
30 July 2020 - 05:00
A good week
Finally, some relief may be on the cards for investors ensnared in the world’s worst financial fraud since Enron. Steinhoff’s proposed R16.5bn settlement is, admittedly, a fraction of the R136bn in combined claims against it, but it is no small achievement for CEO Louis du Preez, who has had to wade through forensic reports, salvage Steinhoff’s finances, run a business, and try to make good with the more than 90,000 shareholders sucked into the big growth lie sold by former CEO Markus Jooste...
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