Former CNA owner says it sold its stake because of discord among managers

The original article can be found here.

Article highlights:

  • Amid reports of continuing tensions in CNA, investment firm Astoria blamed its quick exit from the company on growing discord among the management team;
  • After buying the stake in 2020, it sold its 70% stake in the embattled retailer for R1.2 million to members of the CNA management team in May 2021;
  • The stationery retailer has been placed in business rescue, after a public fall-out between its board and former CEO Benjamin Trisk.