Steinhoff's former CEO, Markus Jooste Passes Away

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Anda Mbaliso | Mathipa Phishego

Jooste Found Dead in Hermanus Before Hawks Surrender

Markus Jooste, the former CEO of Steinhoff, tragically ended his life in Hermanus, just one day before his scheduled surrender to law enforcement authorities. Sources close to the situation disclosed that Markus and Stéhan Grobler, the former company secretary and head of legal at Steinhoff, were notified on Wednesday of their requirement to appear before the Hawks on Friday. On the day of the incident, he informed his wife that he intended to go for a walk, while she departed to play golf. Regrettably, it was during this seemingly routine stroll that Jooste made the tragic decision to take his own life.

While authorities did confirm a suicide in Hermanus on Thursday afternoon, they refrained from disclosing his identity. This sorrowful incident comes in the wake of the Financial Sector Conduct Authority’s (FSCA) ruling to impose a hefty fine of R475 million. The FSCA’s probe determined that he, along with Dirk Schreiber, Steinhoff’s former European finance chief, was accountable for disseminating deceptive statements concerning Steinhoff International’s financial state between 2014 and 2017. These false statements led to substantial financial losses, including significant impacts on pension funds.

This was after the Hawks probed his dodgy dealings and FSCA fined him R475 million. This meant investors based their decision on false information, which resulted in hundreds of billions of rand in losses and also a pension fund.

News 24 postulated that their source close to the matter said he and former Steinhoff company secretary and head of legal Stehan Grobler were told on Wednesday that they had to hand themselves over to the Hawks on Friday.

Police Confirm Suicide Linked to Jooste

Lieutenant-Colonel Malcolm Pojie stated that their members were called out to a scene at a beach in Hermanus where a 63-year-old man suffered a gunshot wound to the head. “He was still alive at the time we arrived; he was transported to the hospital and succumbed a few minutes after arrival at the hospital,” said Lt-Col Malcolm Pojie.

Police reported a confirmation of a suicide in Hermanus at around between 14:40 and 15:20 on Thursday but did not mention the name. They also said, “An inquest docket was opened by Hermanus police for further investigation, no foul play is suspected at this time”.