"The PIC has previously pointed out structural issues relating to the material shareholding of the Steinhoff and (Christo) Wiese families' which are perceived to create the dominance of controlling shareholder representatives on the Board and' as a result' potential conflicts of interest." The Department of Trade and Industry (dti) and the Companies and Intellectual Property Commission (CIPC) announced on Tuesday they plan to launch an investigation into allegations of non-compliance by Steinhoff with the Companies Act and its regulations. Meanwhile, South African tycoon Christo Wiese resigned on Thursday as chairperson of Steinhoff, the latest setback for the retail group in the throes of an accounting scandal, reports Sydney Morweng- news editor. Wiese has been chairperson since last year and a board member since 2013. He owns about 22% of the company, the stake he built in 2014 when he sold his clothing retailer Pepkor to Steinhoff via a combination of cash and shares.