Alexander Forbes has appointed Dawie de Villiers as its new CEO, less than a week after announcing the the termination of former CEO Andrew Darfoor’s contract.
Read: Alex Forbes CEO fired
He will assume the position of group CEO and as a director of the company from November 1, 2018 as well as director of a number of the company’s subsidiary boards, it said in a Sens announcement.
De Villiers is currently employed by Sanlam as CEO of its employee benefits business, a position which he will vacate on October 31, 2018. He joined Sanlam in 1993 and has spent 25 years with the company.
“Dawie has added significant value to Sanlam during his tenure over the past 25 years. SEB, which is part of Sanlam Corporate, is a resilient business with a strong leadership team and highly capable staff. I am confident that we have a team with the requisite capacity and commitment to sustain the performance of the business until we can appoint a new chief executive for the business. We respect and appreciate Dawie’s decision to further advance his career and wish him well for the future,” said Temba Mvusi, acting CEO of Sanlam Corporate.
Sanlam has appointed Jocelyn Hathaway as interim CEO of Sanlam Employee Benefits. Hathaway joined Sanlam in 2011 and currently holds the position of head of finance and operations at Sanlam Corporate. A B.Com and University of Cape Town MBA graduate, she also has 25 years of experience in the financial services industry.
Alexander Forbes announced the dismissal of former CEO Andrew Darfoor with immediate effect last week, saying only that the decision flowed from a “loss of confidence and trust”.
As reported by Moneyweb, Darfoor’s exit raised questions about the turnaround of South Africa’s largest pensions administrator. The former chief executive had implemented a five-year, five-pillar strategy dubbed Ambition 2022, in 2017.
Last week, Darfoor told Moneyweb that he was mandated to execute the transformation and turnaround strategy, which was again ratified by the company in March 2018. He added that Alexander Forbes reported tangible progress against the strategy in its results for the year ended March 2018.
Alexander Forbes has declined to comment further on both Darfoor’s axing and de Villiers appointment.