Npi Governance Consulting
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Steinhoff International’s chairperson, Heather Sonn has resigned following the acknowledgement of a conflict of interest with a company she was a shareholder in that transacted with Steinhoff.
Explaining her resignation, Sonn said: “A company in which I am a shareholder, Gamiro Ventures, unwittingly completed a transaction with a company, Geros Financial Services, that now appears may have been associated with and (indirectly) funded by the company.
“In December 2017 I requested that this transaction be placed on the list for investigation by PwC when a name in the shareholding structure of the shareholder of Geros was recognised as a name that also appeared in the Viceroy Report. Unfortunately, it has taken over two years to get to a conclusion as to the nature of the relationship between the company and Geros, but there were multiple priorities for the company at the time.
Explaining her resignation, Sonn said: “A company in which I am a shareholder, Gamiro Ventures, unwittingly completed a transaction with a company, Geros Financial Services, that now appears may have been associated with and (indirectly) funded by the company.
“In December 2017 I requested that this transaction be placed on the list for investigation by PwC when a name in the shareholding structure of the shareholder of Geros was recognised as a name that also appeared in the Viceroy Report. Unfortunately, it has taken over two years to get to a conclusion as to the nature of the relationship between the company and Geros, but there were multiple priorities for the company at the time.
