Thabo Dloti, the current CEO, is leaving Liberty following a difference of opinion with the board on the immediate focus of the company at a time when the company is facing operational challenges.
The company has announced David Munro, the current chief executive of Standard Bank Group’s corporate and investment banking (CIB) division and a current non-executive director of Liberty, will immediately assume the role of CEO of Liberty.
Dloti believes that, given this environment, alignment among key stakeholders is imperative to ensure the effective execution of the strategy required to drive the company forward. This alignment, coupled with the ability to act decisively, is in the best interests of the company. Hence, he is stepping aside.
Liberty’s non-executive chairman Jacko Maree says, “Thabo has shown great resilience steering Liberty through a challenging period of global financial crisis and local economic instability. We would like to take this opportunity to thank Thabo for his commitment to Liberty.”