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Alexander Forbes fires CEO over a 'loss of confidence and trust'

Sep 25 2018 09:27
Lameez Omarjee

Alexander Forbes [JSE: AFH] announced on Tuesday morning that it had terminated the services of CEO Andrew Darfoor.

In a notice to shareholders, the financial services provider said its board resolved to terminate Darfoor’s services with immediate effect – as a result of a “loss of confidence and trust”.

Darfoor was appointed in 2016, taking over from Edward Kieswetter who retired.

The board in the mean time is prioritising the search for a new group chief executive.

Marilyn Ramplin, an independent non-executive director will be the interim group CEO.

The group's share price opened the day on Tuesday at R5.00 a share, and had rallied by 6.19% to trade at R5.15 a share by 10:09.

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