You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

Alexander Forbes loses empowerment chief in management flight

Alexander Forbes’ chief empowerment and transformation officer, Thabo Mashaba resigns, effective end of January.
The number of top managers to have left Alexander Forbes in recent months has tallied to eight. Picture: Moneyweb

Thabo Mashaba, chief empowerment and transformation officer at Alexander Forbes has resigned, taking the number of top managers that have left the South African insurance-services provider in recent months to eight.

Mashaba’s departure will come into effect at the end of next month, Chief Executive Officer Dawie de Villiers said in an emailed response to questions Wednesday. Mashaba had spent almost seven years at the firm, according to his LinkedIn profile.

The news comes as De Villiers, who joined the company in November, reviews a strategy, known as Ambition 2022, spearheaded by previous CEO Andrew Darfoor. Darfoor was ousted in September last year after the company’s second-largest shareholder, African Rainbow Capital Investments raised concerns about the plan. He had only spent about two years at the company’s helm.

Following Darfoor’s departure, Chief Financial Officer Naidene Ford-Hoon and Alexander Forbes Investments CEO Leon Greyling resigned. The company has also lost Tony Powis, CEO of corporate and employee benefits, Sugendhree Reddy, head of retail financial services, Vishnu Naicker, group chief risk officer, and Christian Schaub, chief human resources officer.

For the sake of continuity, existing Alexander Forbes staff will expand their responsibilities, De Villiers said. Lynn Stevens, who is currently group chief marketing officer, will take over the Alexander Forbes Community Trust and bursary programs, while Muriel Sokkie, the interim group chief human resources officer, will deal with empowerment and transformation, he said.

© 2019 Bloomberg L.P

COMMENTS   3

Sort by:
  • Oldest first
  • Newest first
  • Top voted

You must be signed in to comment.

SIGN IN SIGN UP

What is going on in that place?

New broom is getting rid of dead wood accumulated under the previous extravagant and clueless management – all the departures are good news for the business, I believe.

The sadness I feel when thinking of AF is real and I left the company over 20 years ago! Lewis and Kerrigan must be crying themselves to sleep when they think of how this company has digressed.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles: Advanced Search
Click a Company: