Good week for Richard Friedland, bad week for Mark Zuckerberg
Some might argue that he should never have ventured there in the first place, but Netcare CEO Richard Friedland’s announcement that SA’s largest private hospital group was finally Nexiting the UK after five disastrous years drove up its share price by 10%. Friedland said the rent obligations of Netcare’s UK operating company BMI Healthcare had become "unaffordable". Netcare is seeking buyers for the business, which was also hit by a decline in private medical insurance and work for the NHS.
The row over the harvesting of the personal information of 50m Facebook users for party political purposes without their consent has put CEO Mark Zuckerberg under intense pressure. Billions of dollars have been wiped off Facebook stock in the scandal involving political consultancy Cambridge Analytica; other tech-industry heavyweights such as Tim Cook and Elon Musk have slammed Facebook’s business model. Zuckerberg is under pressure to appear before a US congressional inquiry and a British parliamentary probe.