The changes at Investec have reopened an old debate: does it make sense to have joint CEOs? There are a few examples where it was a great success, notably Graeme Kerrigan and Leon Lewis at Alexander Forbes, though their joint-CEO successors proved disastrous. Ronnie and Bertie Lubner had many successful years as joint heads of the PG Group. But the market finds joint CEOs confusing — after all, the buck should stop with one person. Under the old Investec model there were two leaders, but a subtle difference in title between CEO Stephen Koseff and MD Bernard Kantor. Under the new regime, Fani Titi and Hendrik du Toit will be joint CEOs. There have been inevitable comparisons with Sim Tshabalala and Ben Kruger, who until recently were joint CEOs of Standard Bank. The bank was criticised for not letting a black man become CEO without serving an apprenticeship with an older white man. Kruger has since stepped down. But Tshabalala says many complex businesses, such as Goldman Sachs, have...
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.