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Former Alex Forbes CEO says he will challenge dismissal

Andrew Darfoor says he has lodged a case against the company with the CCMA.
Andrew Darfoor's dismissal comes after the board is said to have lost 'confidence and trust' in him. Picture: Supplied

Andrew Darfoor, who was fired as chief executive officer of South African financial services firm Alexander Forbes Group Holdings, said he has lodged a case against the company with the Commission for Conciliation, Mediation and Arbitration.

Read: Darfoor dismissal raises questions about ‘Ambition 2022’ plan at Alex Forbes 

Darfoor declined to provide more comment in a mobile-phone message on Tuesday. He left the company last week after the board said it lost “ confidence and trust” in him. One of the company’s largest shareholders, African Rainbow Capital Investments, said it had raised concerns about the performance of the retirement, investment and insurance service provider.

The 44-year-old was dismissed after only two years into the role and halfway through a five-year turnaround plan. On Monday, the company named Dawie de Villiers, who heads insurer Sanlam’s employee benefits unit, as CEO from November 1. Alexander Forbes declined to comment.

Read: Alex Forbes snags Sanlam exec as new CEO

Johannesburg-based Business Day newspaper reported earlier on Tuesday about Darfoor’s plans to challenge his dismissal.

© 2018 Bloomberg L.P


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Of course he will – you don’t give up a fancy package without a scrap – or a little more loot.

Take the golden head shake and disappear – going to CCMA its making things worse. No one will want to hire him after that.

What happened top the good old days when a person who was fired just – well – left. It all seems to have changed since 1994. Nothing to do with entitlement, obviously.

Even the non-South African Blacks get ‘entitlement fever’ when they come here.

I don’t know. Van Zyl and van der Merwe seem very enthusiastic in getting their man into the top position at AF. Given the recent track record of these two I can imagine there might be more to this than meets the eye. I guess we’ll find out soon enough.

Have a look at his track record, reputation, experience and qualifications. One of the only credible options to take a business like Forbes forward.

One needs to marvel at the so-called “Empowerment” that is represented by the two Johan vans who jointly run ARC. The replacement of one black CEO (albeit non-South African) with a Dawie de Villiers. Straight from that bastion of empowerment, Sanlam. Looks like the new guy will certainly answer to the Johans. Ja Meneer Nee Meneer.

You’re right. Sanlam is the bastion of empowerment in SA.

1st large BEE transaction in 1993 – sale of Metropolitan to NAIL. 1st and one of the most successful BBEEE empowerment deals in the country in 2004 – Ubuntu Botho. Sanlam Ltd. has a 13% overall direct Black ownership, currently working to lift this to 19% – HIGHEST in the industry! When taking only the onshore ownership into account and allowing for the PIC … over 60% of Sanlam’s local owners are Black. The entire Investment Team at SIM is Black. The only Big Financial Services firm to support the growth of independent Black Asset Managers. Black CEO’s of Glacier, Sky, SIM, Actuarial, Emerging Markets and Corporate.70% of staff are Black, 90%+ of recruitment is Black.

Re Dawie, you don’t build the most awarded employee benefits firm in the industry (SEB) by being weak. Unfortunately, he is a loss to Sanlam and a great gain for Forbes.

End of comments.





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