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The deputy chief executive of MMI Holdings, Mary Vilakazi, has said she does not feel hard done by the company’s decision to bring in Hillie Meyer to lead the company following the exit of Nicolaas Kruger as the chief executive.
The company announced recently that Vilakazi, who is the second in command, would not be succeeding Kruger and Hillie would instead be brought in after “an intensive search internally and in the market”.
Speaking to City Press, Vilakazi said though she has ambitions of being the chief executive of the company, she does not feel overlooked by the decision.
“When I was appointed as deputy chief executive last year there was no discussion with me that said you are deputy chief executive in succession of Nicolaas,” she said adding that there was a good understanding that she was not anointed as the next in line to lead.
Vilakazi emphasised that there was no contractual obligation of any kind or breach thereof and confirmed that she was notified of the decision to bring in Meyer upfront.
“There were plans that he [Kruger] would move on and in future I will be part of the succession and I wasn’t anointed so that meant that there would be a race and I was very happy to go at it and that’s fine. I would prepare myself and ensure that I participate in the succession race when that happens. Things culminated and he left now,” she said pointing out that she wanted to be closely involved in her current duties and would like to ensure the merger (Momentum and Metropolitan) to be properly integrated.
“I don’t feel I was overlooked. Things play out in a particular way but this retail business has been my thing since my appointment and that’s a project that’s much closer to my heart,” she said.
MMI also said its board was very comfortable with the changes and did not overlook anyone in that process.
“There were several leadership changes in the market and in considering all options an interim leader for a minimum period of two years provided the best solution. The MMI board, along with Mary, is managing her career and the journey she is on in MMI illustrates that. Mary was only appointed as deputy chief executive in July 2017 and at the time of the announcement, we indicated that the next phase of her development will be to get closer to the detail of the insurance business.
“Mary therefore today has the responsibility for 60% of the Group’s business through leading the Momentum and Metropolitan businesses. This responsibility was given to her as deputy chief executive shortly after her promotion. It is extremely important to stabilise that part of our business as we remain of the opinion that the growth prospects are indeed encouraging. It remains the view of the board to look after our talent and not to rush a process but ensure we position our talent for success,” the company said, adding that Vilakazi and other internal candidates for the position would be able to learn from Meyer as the chief executive.
As part of the changes the company also appointed Jeanette Marais, as a second deputy chief executive from the beginning of March.
