Liberty Holdings failed to put succession plan in place - BMF

The Black Management Forum (BMF) has strongly criticised South African life insurer Liberty Holdings for its failure to implement a succession plan.

This come after Liberty CEO Thabo Dloti resigned with immediate effect on Tuesday, citing differences with the board.

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

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

BMF managing director Busi Mavuso says poor succession planning is reversing the efforts of transformation in the private sector.

If succession planning was done right, Thabo Dloti would have groomed a successor that would have been ready and able to step into his shoes when he walked out of his positions.

Busi Mavuso MD of Black Management Forum

Dloti resignation has now reduced the number of black CEOs of JSE-listed companies.

Corporate South Africa is clearly sleeping on the job.

Busi Mavuso MD of Black Management Forum

Take a listen:


This article first appeared on CapeTalk : Liberty Holdings failed to put succession plan in place - BMF


Recommended

by NEWSROOM AI
Read More
Wits Nehawu members down tools over salaries

Wits Nehawu members down tools over salaries

Nehawu Wits acting secretary Tumisho Madihlaba says negotiations with management deadlocked resulting in a strike.

Former Eskom interim CEO Sean Maritz under fire for signing off R400 mil payment

Former Eskom interim CEO Sean Maritz under fire for signing off R400 mil payment

‘Documents show that the fee contract was entered into by Anoj Singh & signed off by the acting CEO Sean Maritz' - Chris Yelland

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

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

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

May the Fourth be with you, a celebration of Star Wars Day

May the Fourth be with you, a celebration of Star Wars Day

May 4 marks "May the Fourth be with you," Day celebrated by fans George Lucas' fans of his Star Wars global movie franchise.

Liberty CEO Thabo Dloti opens up about money

Liberty CEO Thabo Dloti opens up about money

The Money Show's Bruce Whitfield interviews Dloti about his attitude to money (hopes and fears, successes and failures, etc.).

SA CEOs pledge support for Pravin Gordhan ahead of Mini-Budget

SA CEOs pledge support for Pravin Gordhan ahead of Mini-Budget

Nearly 100 CEOs issued a statement pledging support for Finance Minister Pravin Gordhan after fraud charges were laid against him.

Popular articles
6 dumbest things people in their 20s do with money

6 dumbest things people in their 20s do with money

Sam Beckbessinger, the author of “Manage Your Money like a F*cking Grownup,” has some tips, so you don’t have to live with regret.

Moyane and Abrahams intend cross-examining Gordhan's state capture testimony

Moyane and Abrahams intend cross-examining Gordhan's state capture testimony

Public Enterprises Minister Gordhan appeared before the Zondo Commission on Monday to give his testimony into state capture.

[LISTEN] 'We will not pay out the insurance claim', MMI CEO tells Eusebius

[LISTEN] 'We will not pay out the insurance claim', MMI CEO tells Eusebius

Eusebius McKaiser engages MMI CEO in a fiery debate about why they won't pay gunshot victim's R2.4 million policy claim.

VW vehicle nightmare to cost customer R23 000  after third engine fails

VW vehicle nightmare to cost customer R23 000 after third engine fails

A brand new Touran that's had three new engines since 2012 is about to cost the customer R23 000 for a fourth engine.

Cyclists brought the heat as they tackled the 2018 Telkom 947 Cycle Challenge

Cyclists brought the heat as they tackled the 2018 Telkom 947 Cycle Challenge

The annual Telkom 947 Cycle Challenge showcased pure heart as 24 000 riders took to the streets to tackle the 95km route which has been ‘flipped’ for the first time.

I broke my cell & deactivated my account after I saw Gigaba's vid - Coconut Kelz

I broke my cell & deactivated my account after I saw Gigaba's vid - Coconut Kelz

In the Current Affairs segment, satirical comedian Coconut Kelz chats about the real reason behind Malusi Gigaba's resignation.