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COSATU on Sugar Tax Part 1 of 3
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Shopsteward Volume 26 No. 2

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  |  COSATU Press Statements

COSATU denounces and rejects the patronising practice of Joint CEO's

The Congress of South African Trade Unions condemns the condescending culture by white corporate South Africa to appoint joint CEO's as happened with Investec. This decision by Investec is racially loaded and it goes against the spirit and the objectives of affirmative action, which is to affirm black people as equal to white people.

We find this practice blatantly racist because it based on the assumption that black people can never be trusted to run companies without white tutelage. If the previous CEO was running Investec alone, why is it a problem then for a black person to do the same without white supervision. The joint CEO's practice is now becoming an established rule and must challenged. We want the Human Rights Commission to look into this matter because it violates the right to equality and dignity of black people.

It is for this reason that we want real transformation that will allow black people to stand on their own and not be arrogantly treated like second grade leaders, despite their education qualifications and experience. Fani Titi holds a B.Sc. degree with Honours and a Masters degree in Mathematics from the University of California at Berkeley and an MBA from Wits Business School has extensive business experience including in Investec.

COSATU views the Joint CEO practice as undermining and the continuation of the anti transformation agenda that is about frustrating leading black professionals by destroying their self esteem. As COSATU we do not celebrate this appointment, despite the fact that it may be good for Titi's personal achievements.

Issued by COSATU

Sizwe Pamla (Cosatu National Spokesperson)

Tel: 011 339 4911
Fax: 011 339 5080
Cell: 060 975 6794

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