FirstRand’s appointment of new white CEO: two transformation steps backwards?

South Africans are so obsessed with race that they look for it even in trivial matters. Such is the legacy of the country’s past that people’s judgment is clouded by race, even when commonsense dictates.
The replacement of the outgoing CEO, Sizwe Nxasana, with a white CEO, johan Burger at FirstRanh, has apparently caused a stir amongst BEE proponents. But dispelling fear, Nxasana said: “Yes, they will be a white CEO at  the top, but we have a pipeline of excellent black talent. Maybe you are not aware, 54% of the executives at FNB are black and 40% at West Bank.”

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