“Joint CEO ar­range­ments are never in the best in­ter­est of com­pa­nies, as they demon­strate a lack of suc­ces­sion plan­ning, an over­bur­den­ing of the pay­roll with ex­ces­sive ex­ec­u­tive pay, and they lack ac­count­abil­ity, as two peo­ple are re­spon­si­ble for a sin­gle

Finweek English Edition - - In Brief -

− The Black Man­age­ment Fo­rum (BMF) re­sponded on 12 Septem­ber to the an­nounce­ment that Sim Tsha­bal­ala had been named Stan­dard Bank’s sole CEO af­ter shar­ing the po­si­tion with Ben Kruger since 2013. Kruger re­mains an ex­ec­u­tive di­rec­tor of the com­pany, re­port­ing to Tsha­bal­ala. The BMF lauded the de­ci­sion, stat­ing that it demon­strates the bank’s se­ri­ous­ness about suc­ces­sion plan­ning and re­spect for black tal­ent and lead­er­ship. Stan­dard Bank de­fended the joint lead­er­ship struc­ture, say­ing that it had “met and in many re­spects ex­ceeded ex­pec­ta­tions”.

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