By Stuart Lowman
Paul Copley’s resume includes PwC, Lehman Brothers and Kaupthing EHF — the latter two, however, were victims of the 2008 credit crisis. He is expected to join the supervisory board.
Copley is an insolvency veteran – making him most likely a past master with liquidations. This fact is unlikely to spark confidence in Steinhoff shareholders.
There’s a classic investment term called a ‘dead cat bounce’ — one wonders if Copley has been brought in to lay the cat to rest.