South Africa 28.8.2018 05:13 pm

Markus Jooste to testify on Steinhoff in parliament next week

Former Steinhoff CEO Markus Jooste. Picture: Moneyweb

Former Steinhoff CEO Markus Jooste. Picture: Moneyweb

The disgraced former Steinhoff CEO was set to appear before MPs tomorrow, but was given a week’s reprieve to testify under oath.

Former Steinhoff chief executive Markus Jooste has been given a week’s reprieve to appear and testify under oath before four parliamentary committees following an agreement reached at court today.

Parliament made public the court order which spells out an agreement reached between its lawyers and Jooste’s that the disgraced former Steinhoff CEO would no longer be required to appear before MPs tomorrow, but seven days later on September 5th.

“The applicant will appear, as the only witness to testify on the day….to give evidence under oath and to be questioned to assist the Committees to identify any institutional flaws and challenges existing in the financial regulatory framework or any implementation challenges in the financial regulatory framework which might have caused or given rise to the collapse of the value of Steinhoff shares,” the order states.

Jooste headed Steinhoff at the height of a scandal that rocked the company last year. It is still grappling with the fall-out after it admitted to accounting irregularities last December, leading to a heavy sell-off of its shares, while Jooste was forced to step down.

Jooste was issued with a subpoena, along with former chief financial officer Ben La Grange, to appear before Parliament’s standing committees on finance and public accounts, as well as the portfolio committees on trade and industry and public service and administration on Wednesday, August  29.

Parliament in a statement today said La Grange was still scheduled to testify tomorrow (Wednesday).

African News Agency (ANA)

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