The news regarding the departure of African Bank CEO Basani Maluleke, primarily due to a personality clash with chair Thabo Dloti, highlights the complexities of the delicate but fundamentally important relationship between a company’s chair and CEO.

Heavily regulated entities such as banks and insurance companies (African Bank is both) dictate that boards take a firmer hand than most to ensure the highest level of oversight and governance, especially in the wake of Steinhoff, and African Bank itself...

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