Market confident about Alexander Forbes despite executive changes
Analysts say the pension fund administrator remains trustworthy and the market will probably take its time in judging the new management team
The exodus of Alexander Forbes executive management in the past few months is unsettling but the market is unlikely to judge the company harshly, say analysts. Instead, performance of the pension fund administrator’s stocks will be more dependent on how well new CEO Dawie de Villiers is able to implement his turnaround strategy. “The current situation is unsettling for the business, and it will require hard work and a consistent message to stabilise the organisation that is highly reliant on its people,” said Karl Gevers, head of research at Benguela Global Managers. The country’s largest pension fund administrator has lost several members of its executive team, starting with CEO Andrew Darfoor, who was fired by the board in September 2018, and followed by the resignation of CFO Naidene Ford-Hoon. The latest blow came two weeks ago when Leon Greyling, CEO of Alexander Forbes Investments, group chief risk officer Vishnu Naicker and Christian Schaub, who served as the chief human reso...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.