STEINHOFF AFRICA RETAIL LIMITED - Changes To Executive Responsibilities Of The Current CEO Of Star And Appointment Of A New CEO
SRR 201712060019A
Changes To Executive Responsibilities Of The Current CEO Of Star And Appointment Of A New CEO
Steinhoff Africa Retail Limited
(Previously K2017221869 (South Africa) Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share Code: SRR
ISIN: ZAE000247995
(“STAR” or the “Company”)
CHANGES TO EXECUTIVE RESPONSIBILITIES OF THE CURRENT CEO OF STAR AND APPOINTMENT
OF A NEW CEO
Shareholders are referred to the announcement released by STAR’s major shareholder
Steinhoff International Holdings N.V. (“Steinhoff”) earlier today on SENS, in which Steinhoff
informed its shareholders that its CEO Markus Jooste has resigned with immediate effect.
Markus also resigned from the STAR board with immediate effect. In light of these
developments at Steinhoff, STAR’s existing CEO, Ben la Grange has decided to step down as
CEO of STAR. The Board of STAR has requested him to remain as a non-executive director of
STAR, which he has agreed to do. The Board is furthermore, pleased to announce that the
current COO of the Company, Leon Lourens has been appointed to the Board and has
furthermore been appointed as CEO of STAR with immediate effect.
The board brings shareholder’s attention to the recent release of its audited results for the year
ended 30 September 2017 and confirms that STAR is unaffected by the events at Steinhoff.
Stellenbosch
6 December 2017
Sponsor
PSG Capital
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