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AlexanderForbesBusinessLive reports that two more executives have resigned at Alexander Forbes (AF), bringing the number of those who have left since the unceremonious axing of CEO Andrew Darfoor in September to seven.  

With more than half of the executive team displaced, the country’s largest pension funds administrator said it was working on restoring confidence in the company.  CEO Dawie de Villiers, a former Sanlam executive who was swiftly appointed to replace Darfoor, is due to present a reviewed strategy for the group in March.  The firm was halfway through the implementation of a turnaround programme, known as Ambition 2022, which included plans to expand on the continent and build its offering for retail clients, when Darfoor was axed.  AF on Wednesday confirmed the resignations of the head of the corporate and employee benefits division, Tony Powis, as well as the head of the retail business, Sugendhree Reddy.  “Seven executives is indeed a large number, but we’ve put in place an executive committee and the strategy that we’ll present in March will restore confidence in Alexander Forbes," said De Villiers.

  • Read Londiwe Buthelezi’s report on this story in full at BusinessLive

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