Star Group CEO falls, Steinhoff share price tanks

Star Group CEO falls, Steinhoff share price tanks
Published: 06 December 2017
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.
- sens


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