The untimely and sudden departure of Thabo Dloti as CEO of Liberty has solicited wide and varied responses from the business community and society. Most have criticised the appointment of a career banker to run an insurance company, while others are quietly murmuring about yet another black CEO making way for a white CEO. However, I have yet to hear any of these analysts critically assess the performance of Dloti as CEO of Liberty and compare it with that of his peers. Obviously Liberty is a separately listed company with its own board. However, the life insurer is also a 54% subsidiary of Standard Bank, which means that the board is primarily accountable to the bank as its parent. It is clear that Standard Bank was unhappy with Dloti's performance. In fact Liberty chairman and former CEO of Standard Bank Jacko Maree confirmed this when he revealed that he and current co-CEO of Standard Bank, Sim Tshabalala, were asked to sit with Dloti and discuss the issues facing the company and ...
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