The Black Management forum (BMF) in its aim of pursuing a socio-economic justice, fairness and equity has released a list of companies it expects would have black CEOs. These companies include MTN Group Limited’s Group President and CEO; Tiger Brands Limited’s CEO; ArcelorMittal SA’s CEO, Nestle SA’s MD, to name a few.
The group noted on its online platform that report by the Jack Hammer Executive which was released in late last year, revealed that the proportion of CEOs who are blacks in South African has fallen from 15% in 2012 to 10% in 2015 and as a forum which has kept the country’s corporate transformation record in check for the past 40 years, they will work to ensure a balance is restored.
“This snail pace and reversal of transformation remains the biggest threat to the nation-building project which was initiated by our nation’s founding father‚ the late President Nelson Mandela‚” the BMF said.
BMF therefore stated that they are “watching with keen interest” to see that the afore-mentioned companies are replaced with black people as CEOs.
“The BMF expects the aforementioned companies to appoint black South Africans in those positions. Any different outcome cannot be accepted and will deal a severe blow to transformation‚”
“The BMF notes with deep concern the reversal of transformation gains where black CEOs of major companies in our country were replaced by white candidates‚ such as FirstRand’s CEO Sizwe Nxasana’s replacement by Johan Burger and KPMG CEO Moses Kgosana’s replacement by Trevor Hoole‚ as an example.”
BMF also added that the Corporate South Africa ought to shoulder the blame for the economic and racial disharmony that it is currently championing.
Meanwhile, the BMF had on Monday, congratulated Mr. Mzi Mgudlwa who was appointed as the Chief Executive of Edward Nathan Sonnenberg Law Firm.
The group also sent a special thanks to the firm for acknowledging Mr. Mgudlwa and the advancement of excellent black leadership in the country.
The group however, reiterated its stand for the development and empowerment of managerial leadership, primarily among black people, and the creation of managerial structures and processes that reflect the demographics, and values of the wider society.
BMF further urged companies to emulate ENS and support the BMF mission of breaking the artificial Executive Glass Ceilings that have bottled-up black people from achieving these kinds of appointments.