Wiese resigns from Steinhoff, margin loan bites investment banks

The travails of Steinhoff International, the embattled South African retail holding company, deepened today as Christo Wiese, the entrepreneur who has built up the business, resigned as chairman.

  • By Sam Kerr
  • 15 Dec 2017

The South African billionaire had stepped in to steady the ship as executive chairman after the resignation of CEO Markus Jooste on Tuesday December 5, after the discovery of possible “accounting irregularities” at the company.

Steinhoff said Wiese had offered his resignation to reinforce the independent governance of ...

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