Jürgen Schreiber, the outgoing CEO of Edcon, had committed to spending some time in South Africa to help the troubled retailer restructure its debt, a company spokesman said on Friday. Confirmation that Schreiber is committed to finding solutions to Edcon's crippling R22.6-billion debt burden might provide comfort to bondholders who have seen the value of their investments decimated as Edcon struggled to repay the debt taken out to finance Bain Capital's purchase of the company in 2007.But it is difficult to see what sort of commitment Schreiber will actually be able to make to South Africa's largest retail group, after it emerged that he will be taking up a new full-time CEO job in Canada.story_article_left1This week, just hours after Schreiber confirmed that he would not be renewing his contract as CEO but would be staying on as deputy chairman of the Edcon board from August, Canadian company Katz Group announced that he had been appointed as CEO of Rexall Health.The announcement described Rexall Health as a newly established company that would hold all of Katz's health-related businesses - and said Schreiber would take up the CEO position from August.A former colleague of Schreiber said the move would facilitate Schreiber's return to Canada and to an industry with which he was familiar.Before being head-hunted by Bain to take over from the outstanding Steve Ross as CEO of Edcon in April 2011, Schreiber was president and CEO of Canadian health and beauty retailer Shoppers Drug Mart - described as similar to the Clicks chain.Schreiber dismissed speculation that his decision to return to Canada was a result of Edcon's operational and debt problems as the firm continues to lose market share. Some R4.7-billion of loans and bonds has to be rolled over by 2017 and a further R20-billion is up for repayment in 2019.Analysts say that if its capital restructuring is unsuccessful, Bain may have to consider carving up the group and selling some of its chains, which include Edgars, Jet and CNA...