CEO SUCCESSION
Truworths’ game of thrones: Who will win out?
CEO Michael Mark isn’t going anywhere yet, despite assurances that he would step down this November. Now the retailer has pegged its succession on not one but two possible candidates
06 October 2022 - 05:00
You can forgive Truworths shareholders for an unsettling sense of déjà vu. CEO Michael Mark, the longest-serving CEO of a listed company in SA, has once again delayed retirement. What’s more, the Truworths board has now appointed two joint deputy CEOs as possible successors.
Asief Mohamed, chief investment officer of Aeon Investment Management, says the subliminal message is that Mark is so integral to Truworths that it would fall apart if he left. After all, he is regarded as instrumental in the success of the apparel retailer, which has among the highest margins in the industry. ..
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