Steinhoff CEO resigns as accounting irregularities emerge

Steinhoff accounting irregularities

Markus Jooste, the chief executive of the global retail group, Steinhoff, which owns Poundland, Bensons for Beds and Pep & Co in the UK, has resigned after accounting irregularities were uncovered at the company.

The company’s supervisory board has engaged …

US round up: NACD stresses the importance of corporate culture

NACD corporate culture

Although studies have shown that organisations with strong, positive cultures have been shown to outperform their peers and the absence of a healthy culture can create or exacerbate significant risks, the National Association of Corporate Directors’ (NACD) 2017 Blue Ribbon

Japan: Kobe Steel hit by data falsification scandal

Kobe Steel

Japanese company Kobe Steel this week said it had received a request from US judicial administrative authorities for documents following its admission earlier this month that the company had been falsifying data about its metal products for several years and

Rio Tinto fined in the UK and charged with fraud in the US

Rio Tinto
Anglo-Australian mining giant Rio Tinto has been fined £27m by the Financial Conduct Authority (FCA) for breaching UK disclosure rules while the US Securities & Exchange Commission has charged the company and former executives with fraud in relation to the

Independent shareholders oppose pay report at Sky


Independent investors in media group Sky voted heavily against the remuneration report with just 36% of shareholders giving it their backing at the AGM this week (12th October). Chairman James Murdoch received a narrow vote in support of his re-election …

IOD Good Governance Report: Diageo tops rankings

Diageo Good Governance Report

Drinks company Diageo has topped the latest rankings for good corporate governance from the Institute of Directors (IoD) in its third annual review of the UK’s top 100 companies.

The 2017 Good Governance Report was compiled for the IoD by …

United Utilities: UK water supplier fined for polluting river

United Utilities polluting fine

Water supplier, United Utilities, which has customers based in the North West of England, has been fined £666,000 and ordered to pay costs of over £32,000 after pleading guilty to polluting a river with untreated sewage effluent in Greater …

Sports Direct AGM: Chairman gains majority backing from independent investors

Sports Direct AGM

In the run up to the Sports Direct AGM this week (6th September) there were calls for shareholders to vote against the re-election of its chairman, Keith Hellawell, amid concerns that he has not been strong enough in dealing with …

AIM governance: Telit Communications fires CEO

Telit Communications

AIM-listed Telit Communications has dismissed its chief executive, Oozi Cats, following the revelation that he had faced criminal charges and was on run from the US authorities. Yosi Fait, the financial director was appointed as interim chief executive.

Following …

Toshiba: Auditors sign off accounts so Japanese company avoids delisting

Toshiba auditors

Japanese company, Toshiba, which has been restructuring after admitting accounting failures in 2015 has published its annual report for 2016 after receiving a qualified opinion from its auditor, PWC Arata, which meant the firm avoided being delisted from …