Today's Labour News

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AlexanderForbesBusiness Report writes that sacked Alexander Forbes boss Andrew Darfoor indicated on Tuesday that he would be fighting his instant dismissal.  

He indicated that his dismissal, which shook the financial services profession, had not been not harmonious.  “I can confirm that my relationship with Alexander Forbes has ended.  I am not happy about the outcome and will deal with it in due course,” Darfoor said, without elaborating.  The firm earlier stated that it had parted ways with Darfoor, after only two years in his position as group chief executive, as the company had lost confidence and “trust” in him.  Investors had apparently questioned his strategy to drive growth through small acquisitions.  Dissatisfaction also mounted over his decision to push to get more business from retail investors rather than core institutional clients.  The Nonkululeko Nyembezi-led board said that it was now on the lookout for a new chief executive.  Marilyn Ramplin, an independent non-executive director of Alexander Forbes, will be the interim group chief executive.  Alexander Forbes is in the midst of its Ambition 2022 strategic plan designed to transform its business by unlocking potential.


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