Steinfhoff's CEO resigns amidst accounting problem

Steinhoff CEO Markus Jooste has stepped down as auditors from accounting firm PwC conduct an investigation into inappropriate practices in the international furniture company. Steinhoff operates the France-based Conforama furniture chain, Mattress Firm in the U.S. and Poundland in the U.K. The company's share price plunged 60 percent on Wednesday in Frankfurt, erasing over 7 billion euros ($8.3 billion) in value.