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Steinhoff unit announces director's retirement

Steinhoff Investment Holdings Ltd. said March 7 that another director left the company, which was suspended from trading on the Johannesburg Stock Exchange on March 1 for its failure to meet a deadline to file accounts for its fiscal year 2017.

Steinhoff Investment, a subsidiary of Steinhoff International Holdings NV, the South African retailer embroiled in an accounting scandal, announced that Deenadayalen Konar had retired, effective immediately. Theunie Lategan resigned as an independent nonexecutive director March 1, Steinhoff Investment said previously.

Konar, who is also known as Len, resigned from the board of Steinhoff International on Feb. 28, along with three other directors, the company said.