Steinhoff International Holdings N.V.

  • WKN: A14XB9
  • ISIN: NL0011375019
  • Land: Niederlande

Nachricht vom 05.12.2017 | 21:44

Steinhoff International Holdings N.V. : Steinhoff announces investigation into accounting irregularities and resignation of CEO

Steinhoff International Holdings N.V. / Key word(s): Miscellaneous/Change of Personnel
Steinhoff International Holdings N.V. : Steinhoff announces investigation into accounting irregularities and resignation of CEO

05-Dec-2017 / 21:44 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Steinhoff announces investigation into accounting irregularities and resignation of CEO

The Supervisory Board of Steinhoff wishes to advise shareholders that new information has come to light today which relates to accounting irregularities requiring further investigation. The Supervisory Board, in consultation with the statutory auditors of the Company, has approached PWC to perform an independent investigation.

Markus Jooste, CEO of Steinhoff has today tendered his resignation with immediate effect and the Board has accepted the resignation.

Steinhoff will update the market as the aforesaid investigation proceeds. The Company will publish the audited 2017 consolidated financial statements when it is in a position to do so. In addition, the Company will determine whether any prior years' financial statements will need to be restated.

The Supervisory Board has today appointed its Chairman, Dr. Christo Wiese, as Executive Chairman (Delegated Supervisory Chairman) on an interim basis. In addition, Pieter Erasmus, the previous CEO of Pepkor Group, has agreed to join Dr. Wiese in an executive advisory capacity to assist with managing the group's various retail interests around the world. Dr Wiese and the Board will supplement the management team and will embark on a detailed review of all aspects of the Company's business with a view to maximising shareholder value.

The Supervisory Board wishes to reassure shareholders that Steinhoff has a number of high quality profitable businesses around the world.

Shareholders and other investors in Steinhoff are advised to exercise caution when dealing in the securities of the Group.


05-Dec-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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