MONEY
05/01/2018 12:21 SAST | Updated 05/01/2018 12:21 SAST

Steinhoff CFO Ben La Grange Steps Down

Philip Dieperink will become acting CFO.

A Poundland logo sits at an entrance to a Poundland Group Ltd. discount retail store, operated by Steinhoff International Holdings.
Bloomberg via Getty Images
A Poundland logo sits at an entrance to a Poundland Group Ltd. discount retail store, operated by Steinhoff International Holdings.

Ben la Grange on Thursday stepped down as chief financial officer and as a management board member of Steinhoff "to focus on the preservation and procurement of liquidity in the group", the South African retailer said.

Philip Dieperink will become acting CFO, the furniture retail group said, adding that it also planned to hire a debt restructuring expert as chief restructuring officer, with a process to identify potential candidates already underway.

Fighting for survival after flagging accounting irregularities last month, Steinhoff earlier this week said it would have to restate its 2015 accounts and maybe earlier figures, having already warned on its 2016 numbers.