Perhaps Standard Bank wanted a white CEO in charge - Khaya Sithole

While Standard Bank's executive reins have been handed over to Sim Tshabalala, there has been criticism around the bank's initial reluctance to do so, with some calling it's joint CEO model a cop-out.

Before taking the reigns, Tshabala worked alongside Ben Kruger who ran corporate and investment banking between 2006 and 2008, and in June 2008 was made CEO of Standard Bank South Africa.

READ: Sim Tshabalala is now Standard Bank’s sole CEO (after co-CEO Ben Kruger quits)

In a column published by the Business Day on Thursday, charted accountant, Khaya Sithole questions the meaning behind this move and insists it sent out the wrong message.

He states that when Tshabalala accepted the role, 'a common feeling was that Kruger was there to babysit him'.

Sithole continues to highlight how the decision reinforced negative perceptions around the capability of black leaders.

He spoke to Clement Manyathela, standing in for Stephen Grootes, on The Midday Report.

The problem with the joint leadership structure is that unfortunately in the South African context it almost always inevitably ends up with one white leader and one black leader...It always gives the impression that perhaps they did want to have the white CEO in charge but for political reasons they thought it would be better to have a black guy also there.

Khaya Sithole, charted accountant

People are not blind to the possible sensitivities around it.

Khaya Sithole, charted accountant

He says Tshabalala may need to resolve to create a strong pipeline of black leaders within Standard Bank for transformation to be gain traction.

Until then we will always think of him as the guy that took the paycheck, accepted a job he thought he probably wasn't really ready for....

Khaya Sithole, charted accountant

Click on the link below to listen to the full audio.....


This article first appeared on 702 : Perhaps Standard Bank wanted a white CEO in charge - Khaya Sithole


CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Update: Joburg’s water crises will be resolved by 4pm says City

Update: Joburg’s water crises will be resolved by 4pm says City

Ray White asks City of Joburg Environment and Infrastructure MMC, Nico de Jager when the water will be back on.

[WATCH] Zola Tsotsi drops bombshell about Zuma meeting at State Capture Inquiry

[WATCH] Zola Tsotsi drops bombshell about Zuma meeting at State Capture Inquiry

Former Eskom chair Zola Tsotsi’s jaw-dropping statements include Tony Gupta saying they could hire or fire Eskom board members.

Another Cape fire destroys 100 homes in Masiphumelele informal settlement

Another Cape fire destroys 100 homes in Masiphumelele informal settlement

Theo Layne, Spokesperson for Cape Town Fires they are unable to determine the cause of the fire.

'Mugabe won't be forced into exile'

'Mugabe won't be forced into exile'

Professor Gilbert Khadiagala says won't be any major changes South African-Zimbabwean relations.

Zimbabweans gather for arrival of incoming leader Emmerson Mnangagwa from SA

Zimbabweans gather for arrival of incoming leader Emmerson Mnangagwa from SA

People are already arriving at the military airbase in Harare where Mnangagwa is due to land in a few hours.

Sim Tshabalala is now Standard Bank’s sole CEO (after co-CEO Ben Kruger quits)

Sim Tshabalala is now Standard Bank’s sole CEO (after co-CEO Ben Kruger quits)

Kruger remains on the executive board and will report to Tshabalala. The Money Show’s Bruce Whitfield interviews Tshabalala.

Popular articles
Zim ministers snub Mugabe's cabinet meeting call

Zim ministers snub Mugabe's cabinet meeting call

Regional Co-Ordinator at Crisis Zimbabwe Coalition, Joy Mabenge says the keys to Mugabe's impeachment are turning very fast.

Tender irregularities plague City of Cape Town

Tender irregularities plague City of Cape Town

Allegations point to irregularities in the tender processes where some bidders were preferred by the City's senior executives.

What Shoprite, Checkers, Pick n Pay and Makro will offer on Black Friday

What Shoprite, Checkers, Pick n Pay and Makro will offer on Black Friday

Up for a Springboks level scrum? Instructions on how to ensure you get the deals in your inbox the moment they become known...

I didn't believe that he was ever going to step down - JJ Cornish

I didn't believe that he was ever going to step down - JJ Cornish

EWN Africa Correspondent, JJ Cornish describes Mugabe's Sunday evening speech as a humiliating downturn for the Zim president.