NEWS
19/12/2017 14:47 SAST | Updated 19/12/2017 14:48 SAST

Danie Van Der Merwe Appointed Acting CEO At Steinhoff

The global retailer is faced with an accounting scandal.

Bloomberg via Getty Images

Steinhoff COO Danie van der Merwe has been appointed acting chief executive officer (CEO) at the beleaguered company, Eyewitness News reported on Tuesday.

The global retailer, which is under investigation by the Financial Services Board and the Johannesburg Stock Exchange, has also added two new directors to overcome an accounting scandal the company is faced with.

The scandal has reportedly wiped off more than $10-billion of the company's value over the past two weeks.

Also Read: Steinhoff: Your Pension Isn't Always Safe

According to Bloomberg Markets , Alexandre Nodale, CEO of Steinhoff's French retailer Conforama, has been appointed deputy CEO while Louis du Preez, a corporate lawyer, has been hired as commercial director, Steinhoff said in a statement Tuesday.

The trio makes up a new management board alongside Ben la Grange, the chief financial officer.