Alexander Forbes loses yet another executive
Thabo Mashaba, the group’s chief empowerment and transformation officer, has resigned, the company has lost eight top managers in recent months
Thabo Mashaba, chief empowerment and transformation officer at Alexander Forbes Group, has resigned, taking the number of top managers that have left the SA insurance-services provider in recent months to eight.
Mashaba’s departure will come into effect at the end of February, CEO Dawie de Villiers said in an e-mailed response to questions on Wednesday. Mashaba had spent almost seven years at the firm, according to his LinkedIn profile.
The news comes as De Villiers, who joined the company in November, reviews a strategy, known as Ambition 2022, spearheaded by previous CEO Andrew Darfoor. Darfoor was ousted in September 2018 after the company’s second-largest shareholder, African Rainbow Capital Investments, raised concerns about the plan. He had only spent about two years at the company’s helm.
Following Darfoor’s departure, CFO Naidene Ford-Hoon and Alexander Forbes Investments CEO Leon Greyling resigned. The company has also lost Tony Powis, CEO of corporate and employee benefits, Sugendhree Reddy, head of retail financial services, Vishnu Naicker, group chief risk officer, and Christian Schaub, chief human resources officer.
For the sake of continuity, existing Alexander Forbes staff will expand their responsibilities, De Villiers said. Lynn Stevens, who is currently group chief marketing officer, will take over the Alexander Forbes Community Trust and bursary programmes, while Muriel Sokkie, the interim group chief human resources officer, will deal with empowerment and transformation, he said.