Axed CEO Andrew Darfoor takes Alexander Forbes to CCMA

Andrew Darfoor, former CEO of Alexander Forbes. (Photo: Supplied)
Andrew Darfoor, former CEO of Alexander Forbes. (Photo: Supplied)

Andrew Darfoor, who was fired as chief executive officer of financial services firm Alexander Forbes Group Holdings [JSE:AFH], 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, 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’s employee benefits unit, as CEO from November 1. Alexander Forbes declined to comment.

Johannesburg-based Business Day newspaper reported earlier on Tuesday about Darfoor’s plans to challenge his dismissal.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

ZAR/USD
16.54
(+0.83)
ZAR/GBP
20.88
(+0.55)
ZAR/EUR
18.92
(+0.72)
ZAR/AUD
11.61
(+0.51)
ZAR/JPY
0.15
(+0.70)
Gold
1806.46
(-0.14)
Silver
19.32
(+0.24)
Platinum
834.00
(+0.66)
Brent Crude
43.06
(+0.42)
Palladium
1971.50
(+0.75)
All Share
56320.94
(+1.42)
Top 40
52001.68
(+1.50)
Financial 15
10647.28
(+1.13)
Industrial 25
76368.71
(+1.13)
Resource 10
54367.05
(+2.16)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 2106 votes
I am taking a hit, but should be able to recover in the next year
23% - 2699 votes
My finances have been devastated
35% - 4084 votes
It's still too early to know what the full effect will be
25% - 2927 votes
Vote