BUSINESS DAY TV: Liberty’s challenges as David Munro takes the reins from Thabo Dloti
Jacko Maree is chairman of Liberty Holding.
BUSINESS DAY TV: Liberty’s CEO Thabo Dloti has quit the group after just over three years on the job due to a difference of opinions with the company’s board. Majority shareholder Standard Bank is parachuting in David Munro, the head of its Corporate and Investment Banking unit, to replace Dloti. With more on what Munro brings to Liberty, chairman Jacko Maree joins us in studio now. Jacko … so this is a shock move, Thabo Dloti resigning with immediate effect on the back of differences with the board. Were the differences that vast and completely irreconcilable, leaving his departure as the only option? Jacko Maree: Clearly Liberty and the chief executive of the board have all been under pressure in recent times, and we were clearly not happy with our results at the end of last year. We said to the market that some of the things were of our own making, it wasn’t just circumstance. We set pretty tough targets for the management team for this current year and we had our first board mee...
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