Why is a black manager replaced by a white one?
THE stepping down of Thabo Dloti as chief executive at Liberty Life, a Standard Bank entity, comes as no surprise.
This follows a dismal performance in headline earnings by declining 61% at financial year end December.
While this may be justifiable, I am disappointed that he is being replaced by a white manager.
There has been concern expressed about corporate South Africa being lackadaisical and not showing any signs or interest in implementing transformation.
Does Standard Bank not have any capable black managers possessing the skills to fill that post?
If that is the reason, then it is a serious indictment of them for failing to develop talent. Recent statistics have shown Standard Bank to be lagging behind their competitors. Nedbank, has 54% black managers in top positions against Standard’s 22%.
The problem is that the government department charged with the responsibility to monitor and enforce transformation has shown itself to be toothless and is doing little to penalise the impunity with which these requirements are flagrantly disregarded. Kelvin