Steinhoff Shareholders Vote for Mazars to Replace Deloitte

Steinhoff shareholders have voted in favor of Mazars as the retailer’s statutory auditor.

• Mazars replaces Deloitte as Steinhoff seeks a fresh start after an accounting scandal in late 2017 almost destroyed the South African retailer.
• Proposal was made on Aug. 30 by management at company’s annual general meeting in Amsterdam.
• Steinhoff Chairwoman Heather Sonn said a robust process was followed and it was decided that it was in the company’s best interests to make the recommendation that Mazars take over as auditor despite no alternative option being identified.
• About 99.9% of investors voted in favor of Mazars appointment.
• Steinhoff’s accounting ...