ROB ROSE: A new record for Steinhoff
Two years down the line in trying to fix the fraud-ravaged retailer, it won’t help CEO Louis du Preez that investors have now voted to reject its accounts
03 September 2020 - 05:00
Bruno Steinhoff, who as a 27-year old in a newly divided Berlin in 1964 created the furniture maker that still bears his name, could never have imagined how profoundly his company would up-end SA’s business landscape decades later.
When I spoke to him in the Rhineland town of Westerstede in May 2018, shortly after the scandal broke, Steinhoff said he could never have imagined that Markus Jooste, the former CEO whom he saw as an adopted son, could have masterminded such an immense fraud.
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