Alexander Forbes dismisses CEO

Following the dismissal of CEO Andrew Darfoor yesterday, Alexander Forbes shares jumped as much as 8%.

The board of Alexander Forbes said it terminated Andrew Darfoor's services due to a "loss of confidence and trust".

This follows several months of a high number of staff exits that formed part of a restructuring of the group.

In it's SENS announcement on 25 September 2018 8:54, they state the following:

"Shareholders are advised that the board has, resulting from a loss of confidence and trust, terminated the services of Mr AA Darfoor as Group Chief Executive and Director of the Company with immediate effect.

The Board is prioritising the search for a new Group Chief Executive and is confident that an appointment will be made imminently.

Ms M Ramplin, an Independent Non-Executive Director of the Company will be the Interim Group Chief Executive."

ENDS