Legal blow to top Sanlam exec fired amid race, culture tension | Business

📆 2023/02/21 15:15:00
📰 News24

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A top Sanlam executive who was fired in a row over race and culture at the financial services giant has failed in an attempt to challenge a court ruling that prevented his reinstatement. | News24_Business

André Rheeder was fired in 2019 as CEO of Sanlam Properties after he was accused of resisting transformation and being either insubordinate, insolent or racist towards his new line manager, Mervyn Shanmugam.

Rheeder asked the labour appeal court for permission to challenge Judge Hilary Rabkin-Naicker’s ruling, meaning his reinstatement would stand, but on 15 February, his application was refused by three judges.

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_Business Sanlam will be forced to pay out if and when the fired CEO dumps his shares, the value of which must be substantial.

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