Three Alexander Forbes Group Holdings executives have resigned. File Photo: IOL

JOHANNESBURG – Three Alexander Forbes Group Holdings executives have resigned as the South African retirement, investment and insurance-services provider pushes ahead with a strategic review of its market position and business model.

The chief executive at Alexander Forbes Investments Leon Greyling, group chief risk officer Vishnu Naicker and chief human resources officer Christian Schaub plan to pursue other business interests, the company said in an emailed response to questions. 

The departures all took effect around the start of the year.

“Details of the resignations are confidential between the company and the relevant executives,” the Johannesburg-based firm said.

Alexander Forbes was halfway through the implementation of a turnaround program known as Ambition 2022 in September when former chief executive Andrew Darfoor was ousted. He had only spent two years at the firm and has said he is challenging his dismissal.

Shortly thereafter, the company announced that Naidene Ford-Hoon had resigned as chief financial officer.

The group’s new chief executive, Dawie de Villiers, came on board in November after the strategy driven by Darfoor was questioned by the company’s second-largest shareholder African Rainbow Capital Investments.

Permanent replacements for the three senior managers will be found after a recruitment process, which will take into account the company’s strategic assessment, Alexander Forbes said.

Management changes:

  • Carina Wessels will assume responsibility for all group governance and assurance functions. Estelle Viljoen will act as the interim chief risk officer, the company said
  • De Villiers will oversee the Alexander Forbes Investments business
  • Muriel Sokkie, the company’s executive for organizational development, will take the post of interim chief human resources officer

Bloomberg