Report: The Number of Black South African CEOs Is Shrinking
According to a 2015 Jack Hammer Executive Report, the number of Black CEOs in South Africa is declining and there is no sign of recovery. In 2012, out of all of the CEOs in the country, only 15 percent were Black. In three years, that percentage has dropped to 10.
Data shows that almost all of the current top 40 CEOs came from core business roles. However, in the executive teams‚ only about half of the Black South Africans were currently in business strategy‚ operations or finance positions‚ with the balance being in corporate services roles which are most unlikely to lead to a promotion to the top position, reports Business Tech.
“While the immediate thought may be that transformation was at least happening in the executive space‚ which could indicate that top leadership is set for a facelift in coming years‚ there is another piece of information that shows up this interpretation as false,” said CEO of Jack Hammer, Debbie Goodman-Bhya.
Many professionals believe that the expansion of executive leadership will come from the executive teams. It has been proven that many people in mid-level management positions will not get a promotion.
Goodman-Bhya thinks that many South African companies can follow corporations like MTN and Vodacom. She says that the majority of their Black executives occupy major operational and business roles, and they have achieved more meaningful executive transformation than most of their peers.