Steinhoff Names Heather Sonn as Acting Chair of the Company -- Update

By Dimitrios Kontos Features Dow Jones Newswires

Steinhoff International Holdings NV (SNH.JO) has named Chief Operating Officer Danie van der Merwe as acting chief executive with immediate effect.

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The retailer said Tuesday that it has also appointed Alexandre Nodale as deputy CEO and Louis Du Preez as commercial director. Mr. Nodale will maintain his role as CEO of Comforama, the company said.

Steinhoff's largest shareholder, Christo Wiese, stepped down last week as the retail giant's executive chairman. This was just days after CEO Markus Jooste resigned.

The resignations followed the company's disclosure that it had identified possible accounting problems that could affect some $7 billion in assets.

Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com

Steinhoff International Holdings NV (SNH.JO) has named Heather Sonn as acting chair of the company, and said that Ms. Sonn is a member of the independent committee of the supervisory board, which is providing the company with leadership and oversight following the resignation of Christo Wiese on Dec. 15.

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Steinhoff has also named Danie van der Merwe, the company's chief operating officer, as acting chief executive with immediate effect.

The retailer said that it has appointed Alexandre Nodale as deputy CEO and Louis Du Preez as commercial director, adding that Mr. Nodale will maintain his role as CEO of Comforama.

Dr. Wiese, Steinhoff's largest shareholder, stepped down last week as the retail giant's executive chairman, just days after CEO Markus Jooste resigned.

The resignations followed the company's disclosure that it had identified possible accounting problems that could affect some $7 billion in assets.

Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

December 19, 2017 07:24 ET (12:24 GMT)