SA Money Daily | Dis-Chem questioned at AGM about 'zero percent' black top management

Disappointment as Woolies misfires in Australia, SA clothing

View Online SA Money Daily The biggest business, economic and market news of the day. AHMED AREFF, BUSINESS DEPUTY EDITOR Dis-Chem questioned at AGM about 'zero percent' black top management Dis-Chem was questioned about its slow pace of transformation at its annual general meeting (AGM) on Wednesday, when the pharmaceutical retail group was asked about its "zero black representation" at executive management level.   This comes almost two years after Dis-Chem founder and then CEO Ivan Saltzman sparked a controversy with an internal memo to staff that called on a moratorium on hiring white people.   The group later withdrew the memo, saying it regretted the wording, but stood by the intention to improve its transformation targets.   At the AGM, which was held virtually on Wednesday, one shareholder questioned the pace of transformation at Dis-Chem, noting that the company had "zero percent representation of black individuals at top management" level and only 14.2% in senior management.   At the same time, the written question pointed out that Dis-Chem's gender representation at top management level fell short of the industry average. Read More COMPANIES Hundreds of Temu sellers protest over big refund penalties Hundreds of Chinese sellers on Temu have protested against what they call unbearably high penalties imposed by the firm. Sponsored | Subscription-based learning: Can education follow the path of Disney+ or Netflix? UCT Online High School reformats its Adult Matric Preparation Programme with subscription bundles from R450 per month. Disappointment as Woolies misfires in Australia, SA clothing Woolworths's Country Road Group business in Australia is grappling with significant sales declines, raising questions about whether the group is getting its fashion mix right with consumers there. 'I'm just getting warmed up': Renowned consumer journalist Wendy Knowler joins News24 Award-winning business journalist Wendy Knowler will join News24 in August. Investec looks into European banking licence as it sets sights on EU expansion Ruth Leas, CEO of Investec Bank Plc in the UK, says supporting existing and new client activities in mainland Europe will require a banking licence from the European Central Bank. Blow to former Tongaat CFO as watchdog upholds JSE's R6m fine The JSE said on Wednesday that the Financial Services Tribunal had upheld its decision to fine former Tongaat Hulett CFO Murray Munro R6 million and bar him as a director for 10 years. Cape Town call centre boom: 10 000 new jobs in a year heats up office space demand Office space in Cape Town is being snapped up by business process outsourcing companies, which have collectively been creating roughly 1 000 jobs a month in the city over the last year. Media24 to retain newspaper journalists, says Beeld is no longer for sale Media24 will no longer retrench all newspaper journalists from Beeld, City Press, Daily Sun, and Rapport following its plans to close the print editions of those publications. DOWNLOAD THE NEWS24 APP CONNECT WITH US

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