Can Magara manage a speedy reset for Exxaro?
New CEO Ben Magara needs to play a stabilising role as the resources company reskills itself after a tumultuous period
When Ben Magara was officially named CEO of Exxaro Resources, people in the room applauded; some even cheered. “They always do that,” an analyst told the FM when asked if the celebrations, taking place at the firm’s annual results announcement in March, were of a company emerging from trauma.
It’s been a harrowing time for the coal producer. A series of reports by Business Times last year detailed allegations of bullying by Exxaro’s then CEO, Nombasa Tsengwa. Up to nine executive and senior employees had left the company as a result, the newspaper said. After an investigation, the board suspended Tsengwa in December and she resigned in February, alleging bias against her...
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