Parliament wants the former Steinhoff CEO Markus Jooste and former CFO Ben le Grange to appear before the relevant committees on August 29.
National Assembly Speaker Baleka Mbete has authorised the Standing Committee on Finance (SCoF) to summon the two to give evidence.
Mbete gave the thumbs up to the inquiry into the causes of Steinhoff’s sudden collapse in share value, which resulted in investors and pension funds losing money and thousands of jobs being threatened.
“The SCoF is planning to summon the former CEO and CFO of Steinhoff to focus on institutional flaws and challenges existing in our financial regulatory framework or any implementation challenges in our financial regulatory framework, which might have caused or given rise to the Steinhoff debacle,” Mbete’s office said in a statement.
Mbete’s office said it is to re-examine regulations that may have led to the debacle and is not a criminal inquiry.
Speaker Baleka Mbete has authorised Standing Committee on Finance to summon ex Steinhoff CEO & CFO to give evidence before Parliament regarding nature, causes and consequences of sudden collapse of Steinhoff’s share value
— Moloto Mothapo (@MolotoMothapo) August 21, 2018
Source: News24
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