Liberty Chair Jacko Maree on why CEO Thabo Dloti really quit so suddenly

Liberty CEO Thabo Dloti has quit with immediate effect, citing differences with the Board.

Standard Bank corporate and investment banking CEO David Munro takes over from Dloti.

Dloti served as CEO for more than three years.

The Money Show’s Bruce Whitfield interviewed Liberty Holdings Chairperson Jacko Maree.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

It’s common knowledge that Liberty is going through a difficult period.

Jacko Maree, Liberty Holdings

We set management tough targets.

Jacko Maree, Liberty Holdings

The Board felt uncomfortable with how much more still needed to be done.

Jacko Maree, Liberty Holdings

Thabo came to the conclusion that perhaps the best thing for us would be going separate ways.

Jacko Maree, Liberty Holdings

The company is not in crisis. But we’ve lost market share…

Jacko Maree, Liberty Holdings

Liberty has got a little bit stuck in its core market.

Jacko Maree, Liberty Holdings

David Munro is one of the best executives I’ve ever worked with.

Jacko Maree, Liberty Holdings

For us it [transformation] is a critical issue.

Jacko Maree, Liberty Holdings

Liberty had the courage to appoint a black CEO. We’ve lost him, sadly.

Jacko Maree, Liberty Holdings

Liberty is the 10th most transformed company in South Africa.

Jacko Maree, Liberty Holdings

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