Steinhoff shares nosedive after CEO Markus Jooste resigns

07 Décembre, 2017, 00:49 | Auteur: Auguste Feret
  • A Steinhoff International Holdings NV logo sits on display outside the company's offices in Stellenbosch South Africa on Wednesday Aug. 17 2016. Acquisitions including Pepkor Holdings Pty Ltd. and French furniture chain Conforama France SA have

In a statement last night the company said: "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".

Steinhoff SNHJ.J SNHG.DE said chief executive Markus Jooste, who oversaw its expansion to one of the world's largest household goods retailers over almost 20 years, had resigned and PwC would undertake an "independent investigation".

The CEO of recently unbundled Steinhoff African Retail (Star), Ben la Grange, has also resigned with immediate effect but will remain as a nonexecutive director on Star's board.

After initially falling 60 per cent to a seven year low, the shares in Steinhoff, which owns 40 local brands in more than 30 countries, later recovered but were still down 52%.

The company has asked PWC to conduct an independent investigation into the matter. Steinhoff has said that was a tax case relating to whether revenues were booked correctly, and taxable profit correctly declared.

Mourinho's injury update for City
Gale feels City pose too strong a threat for United to press and claims Guardiola's men could "pierce them apart". To win those games you need to give everything.

Ford Motor Company (F) Outlines Bold New China Growth Plan
X China is "at the heart of electric vehicle and SUV growth and the mobility movement", Bill Ford , chairman of the iconic American auto brand, said in a statement.

Obama to address mayors' meeting on climate change
Chicago Chief Sustainability Officer Chris Wheat says the idea is to "fill the void" the Trump administration has left. Chicago officials are billing the two-day North American Climate Summit Chicago as the first of its kind in the city.

It put Christo Wiese, its largest shareholder and chairman, in charge and later sought to give "additional comfort" to investors anxious about its ability to fund its existing operations, saying it had ‍identified measures that would give it around 2 billion euros ($2.4 billion) of additional liquidity. Attempts to contact Jooste were not immediately successful.

Over near two decades Mr Jooste has overseen Steinhoff's expansion from a South African furniture manufacturer to one of the world's biggest household goods retailers.

Former manufacturing arm of Steinhoff Industrial, KAP's share price fell 14% to R7.45. The release of Steinhoff's 2017 results was postponed until the probe is over. The company had been expected to release its results for the year ended September 30 on Wednesday, but said it would now publish results when it was in a position to do so.

It will also "determine whether any prior years' financial statements will need to be restated", its statement said. Theodore de Klerk was appointed as his replacement, PSG said on Wednesday.

The FT approached Deloitte - which was appointed the company's external auditor in 2015 and audited its accounts in 2015 and 2016, according to Steinhoff's annual reports.

Conseillé:

  • Luke Shaw will get more chances at Manchester United, says Jose Mourinho

    Luke Shaw will get more chances at Manchester United, says Jose Mourinho

    But he is always involved and working for the team. "The goal was important for Marcus Rashford too". Their confidence depends on that sometimes.

    Amazon.com (NASDAQ:AMZN) Is Now Covered By Moffett Nathanson. What's Next?

    Following the transaction, the director now owns 17,114 shares of the company's stock, valued at approximately $20,583,692.36. The e-commerce giant reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $1.09 by ($0.57).
    Willie Taggart to leave OR  to become FSU head coach

    Willie Taggart to leave OR to become FSU head coach

    It hasn't even been a year since Taggart held his introductory press conference at OR , replacing Mark Helfrich. Florida State is 6-6 this season and will face Southern Mississippi in the December 27 Independence Bowl.
  • Des terroristes islamistes voulaient éliminer Theresa May — Attentat déjoué

    Des terroristes islamistes voulaient éliminer Theresa May — Attentat déjoué

    Ils préparaient un attentat contre le 10 Downing Street, la résidence londonienne de la Première ministre, selon le Daily Mirror. Puis, ils comptaient s'introduire à l'intérieur avant d'attaquer Theresa May au couteau, ont rapporté plusieurs médias .
    Roger Goodell signs contract extension as National Football League  commissioner, per report

    Roger Goodell signs contract extension as National Football League commissioner, per report

    Blank told The MMQB that he spoke with Jones recently and that the Cowboys owner "understands the contract and how we got here". The deal was signed today, according to ProFootballTalk , although the terms of the deal have not yet been disclosed.
    Santa Clarita fire kills power to nearly  3000, partially closes freeway

    Santa Clarita fire kills power to nearly 3000, partially closes freeway

    The California Highway Patrol shut down Interstate 5 in both directions after a brush fire broke out in Santa Clarita Tuesday. Five schools in the area are without power but have not been evacuated, according to the Santa Clarita city officials.
  • Le streaming de la discorde entre Google et Amazon — YouTube

    Et si vous pensiez que cette guéguerre n'est qu'une passade, sachez que les hostilités continuent entre les deux entreprises. Compte tenu de ce manque de réciprocité, nous retirons YouTube sur Echo Show et FireTV.
    Vers un nouveau bouclier anti-crise pour la zone euro

    Vers un nouveau bouclier anti-crise pour la zone euro

    Le nouvel organe garderait l'architecture et les prérogatives du MES, mais deviendrait communautaire. C'est l'une des propositions de la Commission européenne pour réformer la zone euro.
    Frost brings defensive coordinator, six others to Lincoln

    Frost brings defensive coordinator, six others to Lincoln

    Former Nebraska linebacker Barrett Ruud, who is now on the road recruiting for the team, is also a member of Frost's coaching staff, the release said.
  • Alain Juppé votera Maël de Calan — Présidence LR

    Alain Juppé votera Maël de Calan — Présidence LR

    Ce n'était même pas un secret de polichinelle, mais Alain Juppé a tout de même tenu à officialiser la chose. Il ne se contente pas de récuser toute alliance avec le Front national , il combat les idées du FN.
    Oklahoma RB Rodney Anderson facing rape allegation

    Oklahoma RB Rodney Anderson facing rape allegation

    The emergency protective order was filed and issued Monday, with the woman writing "I remember feeling like I couldn't get away". Anderson's attorney, Derek Chance , released a statement in which he says his client is "shocked and disturbed" by the claims.
    Kenya draw with Libya 0-0 in Cecafa Cup

    Kenya draw with Libya 0-0 in Cecafa Cup

    Zanzibar shocked Rwanda with a 3-1 win in the ongoing CECAFA Senior Challenge Cup at Machakos Stadium in Kenya , on Tuesday . Abed Yalew opened the scored for the four-time champions as early as the 24th minute after dominating the proceedings.


Populaire

Flynn Said Russian Sanctions Would be 'Ripped Up,' Whistle-Blower Says
Flynn had been a paid consultant for the business venture before he joined the Trump campaign previous year . According to the whistleblower, Copson said, "Mike has been putting everything in place for us".

53-Year Old Rafael Palmeiro Considering MLB Comeback
Rafael Palmeiro wants to pull a Minnie Minoso. "Let me start by telling you this: I have never used steroids, period", Palmeiro said.

Ravi Shankar Prasad questions Congress' stand on Ram Janmbhoomi case
Another party to the case, Haji Mehboob said he also wanted early disposal of the matter and did not approve of Sibal's stand. BJP chief Amit Shah tweeted that the Sunni Waqf Board stated that they don't agree with what Sibal said in court.

Strong natural disaster tremors felt in Delhi
People rushed out of their homes in Rudraprayag, Chamoli, Uttarkashi and Dehradun district as the strong tremors were felt. Media reports said that the tremors were felt in many parts of North India , including Chandigarh and Dehradun.

"The Silence Breakers" are Time magazine's Person of the Year 2017
The Time cover features five women, including Fowler, Swift and the actor Ashley Judd , who accused Weinstein of misconduct. Weinstein has denied via his lawyers and spokespeople that he engaged in any non-consensual behavior.

Robert Mueller subpoenas Trump, family info at Deutsche Bank
The bank also gave his Trump Int'l Hotel and Tower, Chicago, a loan of up to $640 million, according to a 2012 property filing. So far, the special counsel has charged four people as part of the investigation including Manafort and Flynn.

USA non-manufacturing sector reports slower expansion in November
He added, "Comments from the survey respondents indicate that the economy and sector will continue to grow for the remainder of the year".

(IEX) Announces $0.37 Quarterly Dividend
The firm has a market capitalization of $10,237.08, a price-to-earnings ratio of 32.29, a P/E/G ratio of 2.42 and a beta of 1.24. The institutional investor acquired 2,791 shares of the industrial products company's stock, valued at approximately $339,000.

Bernstein Analysts Give Deutsche Lufthansa Aktiengesellschaft (LHA) a €33.00 Price Target
The Passenger Airline Group segment offers passenger services through a route network of 301 destinations in 100 countries. Deutsche Lufthansa Aktiengesellschaft has a 1-year low of €11.21 ($13.35) and a 1-year high of €29.76 ($35.43).

Model in Britain's sex-and-spy Profumo scandal dies at 75
Keeler, who had been living under the name of Sloane for many years, was briefly married twice; both marriages ended in divorce. In 1961 she had affairs with the Secretary of State for War Profumo and the Soviet military attache Yevgeny Ivanov.