It appears that there is a new disease in South Africa, namely retirement or resignation. High-ranking officials are now “unexpectedly” stepping down and parliamentarians are also joining the queue.
The list grows by the day with the latest announcement from Sandile Shabalala from TymeBank , only three years after his employment.
He followed SAA’s boss Vuyani Jarana’s actions who made huge bravado bets on SAA’s revival.
SA Business Leadership’s Bonang Mohale has just announced that he will not renew his contract.
Christo Wiese is also attempting to sell R3.3bn of his Shoprite shares. Absa’s Maria Ramos resigned as head of the bank while Comair, Old Mutual and Massmart’s Chief Executive Officers have given notice that they are also retiring.
Financial experts believe the reason for the exodus is a lack of trust between boards, management and chief officials.
Poor communication b
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