Pepkor non-executive director Jayendra Naidoo steps down

Jayendra says the litigation between himself and Steinhoff has made his role untenable.

Pepkor has announced the resignation of its non-executive director Jayendra Naidoo with effect from 1 February.

In his letter of resignation, Jayendra states that the reason for his resignation is that the litigation between himself and Steinhoff, as the majority shareholder in Pepkor, has made his role as a board member untenable.

He has been a non-executive director of Pepkor since listing in 2017 and he was chairman of the company from 2017 to 2020.