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BMF lists companies it ‘expects’ to have black South African CEOs

18 February 2016 - 12:51 By TMG Digital

The Black Management Forum (BMF) said on Thursday that it is “watching with keen interest…pending appointments” in corporate South Africa. On the forum’s radar are‚ a statement said‚ “MTN Group Limited’s group president and CEO; Tiger Brands Limited’s CEO; ArcelorMittal SA’s CEO‚ Nestle SA’s MD‚ to name a few”.“The BMF expects the aforementioned companies to appoint black South Africans in those positions. Any different outcome cannot be accepted and will deal a severe blow to transformation‚” it said.“The BMF notes with deep concern the reversal of transformation gains where black CEOs of major companies in our country were replaced by white candidates‚ such as FirstRand’s CEO Sizwe Nxasana’s replacement by Johan Burger and KPMG CEO Moses Kgosana’s replacement by Trevor Hoole‚ as an example.”The BMF also cited the Jack Hammer Executive Report‚ released late last year‚ that “reveals that the proportion of CEOs who are black South African has fallen from 15% in 2012 to 10% in 2015”.“This snail pace and reversal of transformation remains the biggest threat to the nation-building project which was initiated by our nation’s founding father‚ the late President Nelson Mandela‚” the BMF said...

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