Former Alexander Forbes CEO Says He Will Challenge Dismissal
(Bloomberg) -- Andrew Darfoor, who was fired as chief executive officer of South African financial services firm Alexander Forbes Group Holdings, said he has lodged a case against the company with the Commission for Conciliation, Mediation and Arbitration.
Darfoor declined to provide more comment in a mobile-phone message on Tuesday. He left the company last week after the board said it lost “confidence and trust” in him. One of the company’s largest shareholders, African Rainbow Capital Investments Ltd., said it had raised concerns about the performance of the retirement, investment and insurance service provider.
The 44-year-old was dismissed after only two years into the role and halfway through a five-year turnaround plan. On Monday, the company named Dawie de Villiers, who heads insurer Sanlam Ltd.’s employee benefits unit, as CEO from Nov. 1. Alexander Forbes declined to comment.
Johannesburg-based Business Day newspaper reported earlier on Tuesday about Darfoor’s plans to challenge his dismissal.
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