Today's Labour News

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AlexanderForbesBloomberg reports that that Thabo Mashaba, chief empowerment and transformation officer at Alexander Forbes Group, has resigned, taking the number of top managers that have left SA’s largest retirement benefits administrator in recent months to eight.  

Mashaba spent almost seven years at the firm and his departure will come into effect at the end of February.  The news comes as new CEO Dawie de Villiers reviews a strategy, known as Ambition 2022, spearheaded by previous CEO Andrew Darfoor.  Darfoor was ousted in September 2018 after the company’s second-largest shareholder, African Rainbow Capital Investments, raised concerns about the plan.  He had only spent some two years at the company’s helm.  Following Darfoor’s departure, CFO 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.

  • Read Roxanne Henderson’s report on this story in full at BusinessLive


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