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Business In The News South Africa

Alexander Forbes makes new executive appointments

JOHANNESBURG, July 4 (ANA) – Former chief executive of audit firm KPMG, Moses Kgosana, on Tuesday said he’s eager to clear his name in relation to the #GuptaLeaks which purport to show he had a cosy relationship with Atul Gupta during the time when the firm were auditors of and advisers to the family’s Oakbay Group of companies.

According to investigative journalism unit AmaBhungane, the emails show the Guptas allegedly laundered money, in the region of R30 million earmarked for the Free State Dairy project, through their company, Linkway Trading (Pty) Ltd, and used it for a lavish family wedding in 2013, with KPMG allowing it to reflect in their books as a “business expense”.

Speaking on eNCA on Tuesday, Kgosana confirmed the authenticity of emails, but said this did not prove any wrongdoing on his part or that of KPMG.

“The conclusion drawn that because we attended the wedding we knew about the money from the Free State, that conclusion is incorrect,” said Kgosana.

Kgosana said he was eager to “clear his name”.

“To clear my name in my view is I’m going to speak the truth. I started acknowledging those emails, they are fact,” he said.

“As a taxpayer, I would like a commission of inquiry as suggested by the former Public Protector.”

Meanwhile, Alexander Forbes on Tuesday announced three key new executive appointments in a bid to strengthen its leadership team following the withdrawal of Kgosana as chairman designate in the wake of the AmaBhungane report.

Current chairman, Sello Moloko, would remain non-executive chairman at Alexander Forbes in the interim.

Alexander Forbes said the new leadership team would be focused on implementing the group’s strategic ambition of building a globally distinctive pan-African financial services leader across five strategic business pillars.

The new appointments are Naidene Ford-Hoon as group chief financial officer, Christian Schaub as group chief human resources officer — subject to issuance of a work permit — and Thabo Mashaba who is assuming a new role of group chief empowerment and transformation officer.

Mashaba was formerly group chief human resources officer at Alexander Forbes and previously at Absa bank.

Ford-Hoon joins the group from the South African Reserve Bank (Sarb) where she was group chief financial officer.

Schaub comes from the Marsh and McLennan companies, where he was global change leader, human resources transformation based in New York, US.

All appointments will take effect on September 1.

Group chief executive, Andrew Darfoor, said the company had sought to strengthen its leadership team.

“We have a crystal clear strategy and value proposition, a strong leadership team that is aligned and focused on the delivery of our strategy with speed and precision, and a focus on delivering on the significant upside potential that exists for Alexander Forbes in building a globally distinctive pan-African financial services leader operating in South Africa and selected emerging markets,” Darfoor said.

 – African News Agency (ANA) 

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